Hardly! First let's determine what a true bubble might be. During the rising era of dot.com companies, many investors sank their money into start up companies. When profits didn't materialize, these investors lost their hard earned money and there was no way to recover anything. Why? Because there was nothing of material value. It was just an idea with some well meaning people trying to make it work. Once the doors were closed, that was it. Bust the bubble and nothing is left.

The difference with real estate is there IS something of value. You have a solid investment that can be rented or lived in and will appreciate in value. Real estate has always been and will continue to be one of the best investments you can ever make. Former Federal Reserve Chairman Alan Greenspan's statement to a congressional committee in 2003, reiterated that wisdom.

The National Association of Realtors reports a 6.3% appreciation in U.S. home values since 1968. With tax free gains and income tax savings the true value soars to more than 15% -- much higher than the 10.7% gains touted by stock experts.

Just like the stock market, housing will see its ups and downs and certain areas will always be more desirable. However, with the purchase of a home or a second home, you gain much more than monetary appreciation. You own a piece of the American dream. Yes, you can wait, save more money for a down payment and look for a better deal.

But why?

Isn't it time you enjoyed all the many benefits of home ownership?