He says there is no bubble then quotes "If unemployment spiked, prices could drop 20 to 30 per cent, he says"
Now if that isn't confirmation of a bubble I don't know what is.
Median say 450K.
30% drop 135K
New price 315K
How many people could sustain that sort of loss, when most aren't even paying it off but using any equity as an ATM card?
