The current situation in the real estate market – no bubble  Three different circumstances would have to coincide for a price bubble to form in the real estate market.
•  First, a self-sustaining increase in prices which leads to prices that are no longer justified by economic fundamentals  •  Second, excessive growth in mortgage lending  •  Third, an easing of banks’ credit standards for mortgage loans  Let us then consider the threat of a price bubble by examining these three ingredients.