Is the housing boom over?

[Shane@DBPerformance]

A couple months ago the Twin Cities and Duluth areas were some of the most overvalued housing markets outside of California, Florida, New York and Massachusetts. Interest rates still really quite low. Back in 1990, home loan interest rates were around 10%, during the early 80s they were up to 18%, when I got my house in 1993, we got it at 7%, which was the lowest it had been in 20+ years.