The PERCEPTION is we're in an artificial bubble because house prices are going up 

but the REALITY is that house prices are up because of an INVENTORY SHORTAGE and an INCREASE IN BUYERS DEMAND due to record low interest rates!

3 REASONS WE ARE NOT IN A BUBBLE 

       1- INVENTORY:

            Too many buyers, not enough sellers.

       2- MORE QUALIFIED BUYERS: 

            Lending standards have become more strict, less adjustable rate & interest only mortgages.  Buyers 

            are putting more down on average

       3- HOMEOWNERS HAVE MORE SKIN IN THE GAME:

            Mortgage debt has stayed roughly the sme while homeowners equity has double