The hottest part of the economy right now is real estate. Clark learned this while on book tour this year, when most of the questions focused on buying homes and speculating. When Clark was on tour last year, the questions overwhelmingly concerned debt. But right now, people think real estate is the path paved with gold. First it was Las Vegas, then it was Phoenix, and now it’s Austin. Real estate speculators have driven into Austin and have started buying up houses as their ticket to wealth. Sometimes they don’t even look at the homes, but simply buy them over the Internet. What people need to remember is that foreclosures are up in all but three states. Some states – Texas, Florida and Colorado - have had more than double the national average of foreclosures, according to foreclosure.com. In two of the hottest markets in the U.S - New York City and Boston – foreclosures are also up. Speculation is fueling this, so be careful if you’re buying real estate on a speculative basis. Now, if you’re buying a home right now, should you fret? Not if you’re planning to live in the house for a while. If you’re having trouble making your mortgage payments, you should know that foreclosure fraud is on the rise too. These people come to you and offer to help you out when you can’t pay your mortgage. But the people who are supposedly rescuing you are really trying to cheat you out of your home. It’s gotten huge in Florida, Ohio and New York. So, call your lender and ask to be referred to a counselor. Most lenders offer someone they can be referred out to. Don’t just believe someone who calls you up and offers to help you out.