Is there a bubble?

USA Today asked 1,001 people if they felt the housing market was overvalued, just right, or undervalued. 73% said it was overvalued, 19% said it was just right and 5% said it was under. Now, it doesn’t say where these people lived, but if you did a nationwide survey, I think you would get those answers. If you did a Denver survey, I think those percentages would be different. I do not think Denver is overvalued, I think it is just right and you are not going to see a bubble bursting here in Denver. California, yes a bubble will burst. Arizona, no, I think they are stable. New York City, yes, I think a bubble will burst. Denver, no, they are stable.