Housing Bubbles

This is a great read on the rarity of housing bubbles . We have been and continue to be in one of those at present although many homeowners still seem to have outsized appreciation as their goal. Professor Shiller makes a good point in the last full paragraph about the danger of viewing a house as an investment. If you protect purchasing power (keep up with inflation) , that should be counted as a victory since you will have enjoyed the utility of the house essentially for no cost.