Part of what would make it a bubble is what it means for the bubble to pop. I see housing as creating a very strong headwind for many (most?) people, but I don'

Part of what would make it a bubble is what it means for the bubble to pop. I see housing as creating a very strong headwind for many (most?) people, but I don't necessarily see a bubble. Similar to student debt. It's a strong headwind, but not everything that's bad in economics is a "bubble".