More Housing Data Says Bubble Will Rage On, Fed Will Never Learn | The Wall Street Examiner

``It seems abundantly clear from that data that the US housing market is in a bubble and is a lot hotter than Case Shiller says.... price gains got a little too hot by July and entered a correction in August. This is a typical seasonal pattern.... Restricted supply appears to be the primary driver of the house price bubble. At some point, higher prices should bring forth a torrent of supply, but part of the problem is that ZIRP also restricts supply because it renders too much of a penalty for cashing out equity. ''