People said tech stocks were a bubble for a long, long time before it popped.
The only way we'll know if we're in a bubble NOW is to wait about 3-5 years, not 6-9 months.
There are multiple danger signs in the Boston housing market. Every amateur in the world is going into real estate. It's hard to fathom that it can be infinitely perpetuated. Of course, many of us were thinking the market was overheated 2 years ago, and so far there's been zero sign that we were right.
I literally remember speaking with a friend around 2000. He was saying how he and his wife were thinking of buying a house in 1997 or so, but things were a little overheated, so they waited. Same thing in 1998. Same thing in 1999. Finally, in 2000, after prices were MUCH higher than they had been in 1997, they decided they couldn't wait any longer and bought a house.
And here we are, FIVE YEARS after that, and still it continues.
So who knows. Until it pops, it's not a bubble.
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