It seems that whenever pundits, experts or commentators are asked about whether there is a housing bubble, the answer is given short shrift and invariably contains one of two phrases:
The housing market has a solid foundation
The housing market has a stong fundamentals
These or similar phrases are taken at face value, yet little discussion time is spent on what actually constitutes a solid foundation or strong fundamentals for the housing market. Maybe its really not that complicated after all.