Why there is no housing bubble - Jubak's Journal - MSN Money:
"The sky is not falling. Yes, home prices are sky-high, but we really don't have a housing bubble that is anywhere near bursting. Here's why."
Bernanke: There's No Housing Bubble to Go Bust:
"Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve."
Bubble won't burst / Study finds Bay Area housing prices in line with economic growth:
"The recent, rapid price increases stem not from a speculative frenzy but from basic economic factors, including low interest rates, strong income growth and abnormally low prices in the mid-1990s, said researchers at Columbia University and the University of Pennsylvania's Wharton School.
'The bubble fears are over people paying money for housing today because they're expecting unreasonable (price increases),' said Todd Sinai, associate professor of real estate at the Wharton School. 'Our calculation says that if people are expecting something reasonable, house prices today are justified -- and they are in San Francisco.'"
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