As of the week ending February 17th 2007, searches for "housing bubble" have reached a two year low, only 4.4% of the searches on the same subject that occurred during the second week of June 2005. A media frenzy around a pending correction occurred that very same week, which demonstrates just how suggestible we are, as well as how short our attention spans can be.
But while the bubble seems not to be a major concern, there is a growing game of chicken between buyers and sellers. In the past, searches for "homes for sale" have outnumbered "homes for rent" by nearly 3 to 1. As of last week that margin was cut nearly in half as online domicile searchers indicated their willingness to at least explore renting pending a drop in home prices.
~ Bill Tancer, general manager of global research, Hitwise, "Will The Housing Bubble Burst in 2007?," Time, February 22, 2007