> Many property markets around the world are in a bubble it's only a bubble if it pops. > there's so much cultural distortion around home ownership that it's

> Many property markets around the world are in a bubble it's only a bubble if it pops. > there's so much cultural distortion around home ownership that it's almost a parody of fundamental economic Again, it's only a distortion if it doesn't persist for so long to become a persistent ground truth. A house is not a house is not a house because location, location, location. You can put the same exact dwelling structure in two different places and they can have two very different values because everything around the house matters too and if those things persist, they become as real as the house.