That's what people were wondering about the Internet bubble in 1997 and 1998. And 1999.
People didn't NEED Global Crossing, WebVan or Enron.
People NEED a roof over their heads.
There is no housing bubble.
"Stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they will pay through the nose to get it!"