I don't recall economists saying it (I didn't listen) but every trivial housing metric said we'd been overpriced since the 90s. I saw people buy condos they couldn't pay for with rent in twenty-five years, if ever - if all went well. The rule is that 10-12 years gross rent is the highest reasonable purchase price.

Any economist who didn't call the bubble, and painful end of it, wasn't trying.

It will get worse. Our economy is debt all the way down.