- People do not need to buy. People can and do rent.
- People do not have to live in a bubble market. They may move to cheaper locales.
- There is a practical limit on what people can afford based on income, other expenses, interest rates, and lending standards
- Many of the people now buying are not living there, they are renting ( or trying to rent) their highly leveraged housing units.
- People have always needed 'a place to live,' which did not stop prices from falling in California in the early 90's
Another Housing Bull Argument ( HBA ) debunked.