Rodent Regatta

that a bubble exists in certain housing markets. In fact, some would go so far as to say that the entire residential real estate market is a bubble just waiting for the first pin-prick of bad news.

Reality is somewhere in between. I think you have to be careful about the magnitude of the bubble by market and by specific piece of property. You might have a $800,000 property in one market that is over-valued by $100,000. In another market, you have examples like this 2,200 square foot loft that currently commands a $3.5 million offer.