Location, location, location. It’s not bad enough that we have to follow along with our friends Farmville obsessions or latest Mafia Wars assignments, but now Facebook wants us to know where they are every time they post an update.

According to CNN.com, the social media giant will be rolling out their new location feature late next month to compete with foursquare and Gowalla (for those of you NOT in the know, these apps work like Mapquest and provide location information for stores, restaurants, and bars when your friends “check in” at their desired destination).

While it’s certainly has potential to make money for the company (what, with all the venues angling for advertising) we’re not sure how this is going to work when you’re NOT someplace cool. Announcing you’re updating your profile from your job or an internship doesn’t exactly sound like a good idea, and including your dorm or apartment information just seems like it’s begging for trouble.