"The price tag is only justified when there's no end in sight to the appreciation." Isn't that pretty much the definition of an asset bubble. Prices have decoup

"The price tag is only justified when there's no end in sight to the appreciation." Isn't that pretty much the definition of an asset bubble. Prices have decoupled from underlying asset utility (eg. rent) and it has become speculation on future price growth. As no return to justify the price all of this seems to hang on optimism/pessimism of future buyers. And availability of easy credit of course.