You must live in Indiana or something. :)
No bubble in Texas thats for sure. We wont have to worry about it when California,LasVegas,NewYork, Chicago all go belly up when mtge rates increase and not even investor groups will pay a million for a California fixer-upper.
I think this buy high sell higher mentality in the above mentioned cities and states is because of investors who dropped out of the stock market and decided that buying up
real estate was more lucrative. Especially with low rates.
Its bound to happen, there will be a correction just as it does when the stock market is overheated. And this housing bubble in certain markets is bound to burst and investors will probably go back to buying stocks and bonds once again.
when there are probably local bubbles, Housing prices have risen more in most other western countries than in the USA.