There certainly is a lot of bubble babble out there.
A bubble occurs when prices greatly exceed fundamental values.
As soon as Rich updates his affordability charts (price to income, price to rent, monthly payment to rent ratios, etc), we’ll have the evidence on this board to make an assessment. (Hint Hint).
Based on price trends and previous ratio published, I don;t believe that today’s prices significantly exceed long-term fundamentals. I think his numbers will show that price to income and price to rent are near long-term averages, and due to low interest rates monthly-payment to rent ratio is still below historical norms.
