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Tommy, you express one of the reasons why I am actually looking at SELLING property rather than buying. There is a really big credit bubble out there, similar in scope to where japan was in the 80s, and the results could be similar if the US is not careful. Already some housing markets are seeing a drop in demand and prices, something that hasn't happened in a long time.
I find that for me, check the news from outside your home country is a good way to get a feel for what is really going on. Less chance of a local bias or filter coming into play. When you see differences, you can ask questions and look further.
Alex
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