In one of Rich Dad, Poor Dad's books, Robert Kiyosaki calls people who enter the market late, "Flemings." These are folks who are only willing to try investing after watching others succeed. Flemings are the type of people who jump in only after seeing infomercials and constant reminders of others success.
The "Flemings" are also investing in commodities; Gold. Stocks too! They've begun long-term holds in Google, Boeing, and Halliburton. The Iraq war is unpopular, and the smart folks had bought their shares in Halliburton on 9/12/2001.
So yeah, the real estate market and sub-prime lending slump is big news and a 'cooldown' is definitly here to stay. Hot places anyway? Texas(my #1 pick), and scatterred always hot areas like Pacific Palisades, 90210, Santa Barbara, Marin County, and the Upper-Eastside (NYC).
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