there will be no national bubble burst. There will be small local bursts that all these guys can point to and thump their chests about being right.
Mr. Yale says this is the biggest bubble of the last 100 years. This isn't correct either. there's an area I'm familiar with where in 1969 a house sold for 11,000.
7 years later, that house sold for 33,000 or triple the price
7 years later the house was worth 100,000 or again triple the price.
today the house is worth about 150,000.
Those 14 years were a serious bubble. today, during this great boom, it will take quite a bit more time for MY house, in a town where there are always more buyers than sellers, to triple in price.
its a nice run, its no bursting bubble.