You know ... I read a book a while back but I'm having a hard time remembering the author or title.  It was about bubbles, and irrational exuberance.  If I'm remembering correctly the author grouped housing bubble cities as "international."  Cities with big airports?

I think his idea was that people in or around the international business community was more caught up in this thing than others.

(I think it was "Irrational Exuberance" by Robert Shiller.  I see that I talked about the book here back in March.)

There is also:
A Short History of Financial Euphoria
by Galbraith which is worth the read IMO