[vin-one]

I hope you're right,
But the bubble is not here, the housing shortage continues,

many people are coming into the area, and they are qualifing at higher levels than what was traditional in the past.
The old rule of thumb was home value at 3 times your pay.

Now the mortgage companies are going 6 and 7 times the pay
If the rates go up it will slow down, some but there will still be a shortage of homes....

[IMRight]

Now the mortgage companies are going 6 and 7 times the pay

If you have NO other debts, a loose mortgage criteria, great credit, a good down payment, a following wind, AND go with a low-rate interest-only ARM... you COULD qualify for six or seven times your gross income.

But that would prove a "bubble", because that's the "mania" that defines the "top". Those conditions simply don't last.