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Bubble? What Bubble?

A front-page LA Times piece brings more bad news to those who are waiting out what they hope is a real estate bubble and more smug self-satisfaction for those of us with mortgages: don't expect that bubble to burst any time soon, as prices are continuing to rise. With even grody two-bedroom condos in Playa del Rey now costing half a million dollars, that overpriced fixer-upper in Echo Park with no foundation that you passed up two, three or four years ago starts to look like a colossal missed opportunity. A UCLA economist offers some balm for those who haven't managed to jump into the market, arguing that we are due for some flattening by year's end.
· Housing Prices in L.A. Aren't Letting Up [LA Times]