The next bubble will be something completely different. Last time it was tech stocks, this time it is houses, next time it will be bio stocks or energy stocks or south sea trading shares or tulips. Houses are not going to have another run like this for a long, long time; the psychology is not going to be there to support it.
Nominal home values might not decrease a whole lot once the US starts inflating its debt away, but real values are going to decline for a long time…
