Is There a Real Estate Bubble or Not?

Instead of a housing bubble, we might be facing a housing shortage. The housing shortage is driven by a vicious cycle: People cannot afford to buy homes, so no houses are built. This drives up the price of existing housing stock and further contracts the market because fewer people are buying as costs increase.

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Real Estate Bubble on the Coasts

The difference is that this real estate boom is confined to specific parts of the country; it is not happening on Main Street, and the middle class is not participating.

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