It’s not a housing bubble, it’s just expensive

http://www.msn.com/en-us/money/realestate/it’s-not-a-housing-bubble-it’s-just-expensive/ar-BBus6tp?li=BBnbfcN

Where you are in the country plays into this as well. We have seen a slow year here in Collier Co yet prices are still increasing and we have TONS of new construction.  Read the article in full but the perception that it is not a bubble since we don't have a lot of the problems we had 10 years ago.

But residential real estate isn’t in a speculative bubble, industry observers contend. Instead, a low inventory of available homes is driving prices higher—prices, however, will eventually recede as buyers throw up their hands, or as more new homes come on line. The structural issues that led to the housing collapse last decade aren't present.