Almost exactly same scenario that happened in 2007 when you look at the charts...
The local newspapers are getting really pumped up, this is usually the nail in the coffin for the market, once the public thinks everything is back to normal, this is when the top will be put it. The local major paper here had "The Great Recovery" as the title yesterday, this is a great sign for bears looking for lower prices.
Unemployment is not getting much better at all, alot of people will have to go off emergency unemployment benefits. In Canada here the government is releasing the HST Tax in July, this will rock the real estate market here and will effect every households income as this is essentially a big tax raise on ALL items that otherwise would not have had this tax. Majors being gas, electrical, houses, cars...
Volume in the charts are showing a double top scenario also
