The frothy housing market has officially swelled into an irrationally exuberant bubble. Forget all those interest-only and skip-payments-when-you-want mortgages, which will inevitably lead to middle class families being being foreclosed on. Just consider this: Two-bedroom mobile homes in California are selling for a million bucks. Buyers don’t even own the land! (They rent it from the trailer park.) It’s like paying one million dollars for a car that’s equipped with toilets. Be scared. Be very scared.