I don't think housing is in a bubble except for the Bay Area since new home sales are in a relatively normal range currently[1]. As far as the Bay Area goes it

I don't think housing is in a bubble except for the Bay Area since new home sales are in a relatively normal range currently[1]. As far as the Bay Area goes it appears to be trickle down from FANG stocks buying up VC backed companies and the associated recycling of those proceeds into new ventures. There's also a bit of China money buying up single family homes, but China has been putting steady pressure on all that trying to plug those foreign exchange leaks, so if anything that's waning. Where's the money for the stock market coming from? It used to be quantatative easing and FED reserve bond buying. I guess the yen carry trade in part and probably lately tax cuts a bit. It's harder to see where the money is coming from in the stock market though because buyers are largely anonymous. [1].http://www.calculatedriskblog.com/2018/02/new-home-sales-decrease-to-593000.html?m=1 http://www.calculatedriskblog.com/2018/02/new-home-sales-dec...