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NEW YORK (CNN/Money) – All eyes are on the housing market. Will the boom go bust? Or will prices continue to power ahead - or at least just calmly level off?

One thing is for sure: Now is not the time to be taking outsized risks in real estate.

At the Economic Club in New York in late May, Federal Reserve chairman Alan Greenspan wouldn't concede a "national housing bubble," but did point to a lot of "local bubbles."

The stories below can help you identify where the "froth" is (to use Greenspan's words), and provide strategies to make sure you don't get burned.

The latest home-price stats: First-quarter numbers are in.

Forecast: 100 major markets: The latest outlook for home prices.

Million-dollar homes double: California leads states with the most million-dollar homes and highest median home value.

Counterpoint -- Zell: No bubble here: Sam Zell, the nation's biggest landlord, has a message for real estate worrywarts: Relax.

The risk in interest-only mortgages: These new loans are part blessing, part time bomb.

Before you cash out...: Your home has soared in value and your tempted...here's what to consider first.

How much house can you afford?: Before you get caught up in the frenzy, here's how to establish a safe guideline.

U.K. went cold; U.S. could too: 5 lessons from across the pond that can help you limit your downside.

Risky real estate moves to avoid now: If you're employing any of these financing techniques, it could come back to haunt you.