It's fine as long as there are fools who keep coming along and overpaying for homes. Let's hope it keeps up and people keep thinking they are going to sell those white elephants for more than they paid for them. Can you believe that people still fall for that? Good luck, and congratulations in advance on your new home purchase. Please don't let worries about rising interest rates, unemployment, recession, or baby boomer retirement over supply worry you. Remember, your home is your best investment. Even when it is a highly leveraged depreciating asset.
Thank God there are people you out there.