Is there a housing bubble?  Yes.

Is the housing bubble going to pop?  Probably.

Is the Fed worried about it and are they trying to stop it?  Yes.

I have been watching this over the last couple months and though I would share some useful links on the topics.

http://thehousingbubble.blogspot.com/

http://housebubble.com/

http://housingbubble.blogspot.com/

If you like you can check out some housing sector stocks that may be headed for some trouble:

Pulte Homes (Inventory steadily rising, debt rising, check it out)
http://finance.yahoo.com/q?s=phm

Toll Brothers Homes (Lots of high-end homes, lots of inventory, the million dollar homes are the first to go when a bubble bursts)
http://finance.yahoo.com/q?s=tol

KB Homes (Just blew past their earnings and raised guidance, do they know what they are talking about?)
http://finance.yahoo.com/q?s=KBH

Fannie Mae (Troubled GSA with an ass load of exposure to mortgages (over a trillion dollars worth of such debt)... as rates continue to rise, if FNM may feel the pinch even more and more).
http://finance.yahoo.com/q?s=FNM

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