I've read some things saying Real estate is a bubble and it is going to pop sometime in the future. What does this mean and what will be the effects of the burst?
It won't. It's not a bubble, it will just fluchuate back to the right prices, where they will adjust to where people can afford them. Depending on where you live and in terms of the economy, that's how house pricing is done.
The real estate market runs in cycles, always has and always will. Sometimes it's up and sometimes it's down, but it always returns either way. Lucky for me, I live just outside of DC so there are plenty of jobs and always a huge demand for housing, so this so called bubble won't effect my business.
