A decidedly narrow view, but I know when we bought our home in 2001, I was worried that housing seemed a bit overpriced at that time. The house had certainly appreciated substantially since the previous purchase in 1998. I rationalized it has improvements made to the place and recovery from the decline during the 90s (since curves go both ways), but it still seemed bubbly to me (even though I didn’t know the term at the time).

Anyone else who thought things started to look funny in 2001?

Also, didn’t the only real hiccup in the last five years take place in late 2001 before things started taking off again? I feel like the stock market boom stoked the housing market, 9/11 cooled it off, and subsequent measures and reaction to same got it going again.