text: We've built another housing bubble. Not as much due to price increases but the huge number of people buying with no or less than 10% down payments.  We've learned nothing from the last housing bubble that resulted in 13 million foreclosures.  A job loss or just people seeing a big value drop will result in another round of walk away owners because in the latter scenario so many people don't care about defaulting on a mortgage because only the house is collateral.  Banks and taxpayers take the hit.