From Paul Krugman’s latest column, where insists that there is a housing bubble, albeit not in areas with better geography
Housing prices move much more slowly than stock prices. There are no Black Mondays, when prices fall 23 percent in a day. In fact, prices often keep rising for a while even after a housing boom goes bust.
The bubble (construct that it is) pops and prices still increase? We have such happy problems in this country, it reminds me of our obesity “epidemic”. It reminds me of the old adage “Economists have predicted 14 of the last 5 recessions”.