“So are we in a bubble?  A bubble is typically driven by a surge in asset prices that is fueled by irrational behavior and disconnected from fundamentals.  By that measure, what is happening in housing today is the opposite of a bubble and should help drive the economy.  While the impact of the Great Recession and the collapse of the housing market is still a fresh memory, the damage to the economy was from the subprime mortgage fiasco.  There is little evidence today that lending standards are anywhere near those of 2004 through 2007.” – Elliott D. Pollack and Company, The Monday Morning Quarterback, June 7, 2021