Looks like the United States wasn't REALLY alone in any housing boom. In fact it might be considered to have been lack-luster compared to some of our overseas counterparts.

Here's a link to an article I stumbled upon, posted on November 11, 2004. (note the date)

http://money.cnn.com/2004/11/11/real_estate/investment_prop/pf_worldhousing/

A few words from the article:
"...huge gains in home prices in some countries around the globe make the U.S. real estate market appear tame by comparison. Speculators in Britain, where home prices increased 116 percent between 1997 and 2004, started flipping for a profit long before it was fashionable in U.S. markets. In Ireland, home prices shot up 174 percent during that period, according to statistics compiled by The Economist. Prices increased 121 percent in Spain, 113 percent in Australia and 75 percent in the Netherlands. The U.S. housing market, meanwhile, was up an average of 53 percent."

I may criticize this country at times, but what twerks me off more so than not is that the United States is SO often held responsible for the woes of the world......