> For the bubble to burst, a lot of underutilized housing would need to come onto the market at once... It doesn't have to be a lot. It might only require a l

> For the bubble to burst, a lot of underutilized housing would need to come onto the market at once... It doesn't have to be a lot. It might only require a little underutilized housing to cause a price drop, depending on how inelastic the market is. If that is indeed the case, then the high-price situation would be fairly fragile, and worthy of being called a "bubble", even if it reflects a current shortage.