According to this article, the author doesn't think so. http://www.startribune.com/stories/417/3087240.html I am thinking about making the most expensive purchase of my life. I need some opinions here. According to the article, in twin cities are the average income increased 10% over last 5 years but housing price increased 33%. All the houses I looked at in the suburbs are over 200k. I am afraid of another nasdaq like bubble here. Also I don't know if I should go for fixed interest rates for 30 years or lower fixed rate for 5 years and than variable. I don't think I will live in MN for more than 5 years. Probably another 2 years maximum.