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It becomes a bubble when suddenly people who paid a fortune for mortgages at sky high prices aren't able to pay them anymore. Or demand falls. The market is cu

It becomes a bubble when suddenly people who paid a fortune for mortgages at sky high prices aren't able to pay them anymore. Or demand falls. The market is currently tight but on both supply and demand. No one with a 2% mortgage wants to move. No one wants to buy at 6% interest.

ericmay 2y ago
I personally think of a bubble has having a significant speculation component which I don't think applies wholly to the housing market in the same way it does today's stock market. The reasons that housing prices are so high, in my opinion, is primarily because of structural problems. But certainly others may feel differently or define a bubble differently.
- criddell 2y ago
  The reasons likely vary by region.
  - ericmay 2y ago
    I think that's true and even true at a zip code level for some locations. Broadly speaking though I think I stand by my assessment but always interested to hear other opinions on the topic because it is quite fascinating.