Yeah, but housing demand can usually be pegged to income, which has been flat. Speculator demand is what explains the price rise and that demand is what makes a

Yeah, but housing demand can usually be pegged to income, which has been flat. Speculator demand is what explains the price rise and that demand is what makes a bubble. That is only part of the reason. Artificial demand was created by lowering mortgage standards allowing many more "fake bidders" into the market. Check this out http://www.mortgagecorp.com/noincomenoasset.php http://www.mortgagecorp.com/noincomenoasset.php