The housing market bubble is so early 2005. The new bubble on the horizon comes to us courtesy of Sony. That’s right, I’m talkin’ ’bout the PlayStation 3.

In case that rock you’ve been living under doesn’t have electrical outlets, the PlayStation 3 (PS3)–due out sometime in some year maybe this one or the next one yeah I dunno–is Sony’s third incarnation of its videogame-playing machine. Here are the stats on the hardware specifications of the PS3:

• 10 billion terrajoules
• 4,700,000,000,003 polygons
• Double-quad triple bypass single-filter dual something
• Made from moon dust and holy water
• MSRP: $572,198.12 plus taxes, title, license, fees, shipping, handling, and yo mama

Sounds impressive, doesn’t it? It’s no wonder that pre-orders–essentially $50 pieces of paper promising a person might possibly get the honor of paying another $450 for a PS3 one of these days–sold out nationwide today in roughly 74 seconds. That shouldn’t come as a surprise to anyone. Come on, the darn thing has 10 billion terrajoules! Ten. Billion.

So when someone offers to sell his pre-order receipt on eBay for the low low price of just $1 million, it’s totally worth it to those fools who blinked and missed the pre-order process.

Well, apparently, it really is…

A little math lesson. Let’s say that a high-class hooker runs about $1,000. Since this PlayStation 3 sold for 1,000 times that, then the PS3 must be as great as 1,000 high-class hookers. I hope that Sony will adopt “as great as 1,000 high-class hookers” as its official marketing slogan.

While I doubt Mr. Vinnycthatwhoibe will ever see his million dollars, there are still reports that PS3 pre-orders are fetching over $1,000–twice the retail price–in legitimate transactions.

Of course, when your little devil spawn doesn’t have a PlayStation 3 for Christmas, you’re going to want to blame somebody. It looks like you should direct at least 25% of your rage at the employees of Gamestop and EB Games who snatched up as much as one-quarter of the pre-orders for themselves.