Dr. Housing Bubble diagnoses a "double bubble" in areas such as California, where per capita income increased by 56% while median home prices in Los Angeles shot up twice as fast–providing additional evidence that the housing downturn runs the risk of causing a global recession. For that story and more, check out Big Builder's bi-weekly blog roundup:

The Wall Street Journal reports on foreclosure bidding wars in Cape Coral, Fla.

Seeking Alpha posits that no credit crunch exists outside of real estate and the subprime mortgage market.

The Housing Bubble investigates the foreclosure crisis in Connecticut, Vermont, Massachusetts, and more.

Inman News delves into some dirty little secrets of "liar loan" underwriting.

The debate over whether or not a housing bubble exists in the Washington, D.C., market continues to rage so passionately that BusinessWeek's Hot Property has been forced to dedicate a new thread to the issue.