No I don't plan on doing anything right now, except build an addition to my current house. I can get an addition built for far less than it would cost to sell my house and buy a bigger one. Besides I like the neighborhood, it was built before they started cramming houses in at the minimum setback. That and the drainage swale across the street ensures that nobody will ever build in my view. That view which last year was full of wheat fields is starting to get a lot of houses on it.

I am very glad I bought my house 6 years ago instead of this year. Those are the folks who should be worried about the bubble popping.

I agree with you about the floating point interest only loans. My first loan was one out of necessity due to a mountain of debt. Luckily we got out of it as soon as possible and even payed the pre-payment penalty to do so. I think if we weren't so desperate we could have gotten a better deal, but their was an ex-spouse involved which required we do it quickly to sever those ties.