You want the wage base and the job base to adjust to the housing reality,

This is not a bad thing for the community. This is a good thing.

The developed world is experiencing an amazing housing boom.

This kind of volatility is to be expected in markets with supply inelasticity,

There’s a feeling of ‘buy it today or don’t buy it at all’ because you’ll miss the market.

Because countries trying to join the European Union have been forced to get their fiscal policies in order, inflation is now less of a concern for investors.

Some markets still seem overpriced based on fundamentals, and [in those places] we expect prices to decline or taper off.

[The long-term demographics for housing are encouraging, as well.] The important thing is that the Echo Boomers are coming into home ownership years, … They will be moving into the market and adding stability.

Most people were projecting that interest rates would go up and the housing market would be hit,