I don’t know anything about this guy, but I have a hard time calling Forbes a politician. Sure, he tried a run at the white house but he wasn’t exactly very good at it. I think we all agree that a bubble exists, at least in some areas, and certainly here in San Diego. I would suggest that not all areas of the country have been similarly overvalued. I don’t know whether or not the extreme hotspots like ours pull the national data enough to argue that a nationwide bubble exists. My thoughs are that our current situation was brought on by speculation and enabled by loose exotic lending. While the loose lending was availible nationally, speculation seems to be more regional, and therefore I feel the bubble is regional, not national.
