Poke around the house price charts for your city and see if they don't look like this:
http://us.spindices.com/indices/real-estate/sp-case-shiller-or-portland-home-price-index
What I mean is, after the bubble of the mid 2000s, and the crash of the Recession, house prices have recovered to basically the long term trendline.
For the 10-city index, looks like
http://us.spindices.com/indices/real-estate/sp-case-shiller-10-city-composite-home-price-index
And the national index looks like
http://us.spindices.com/indices/real-estate/sp-case-shiller-us-national-home-price-index
One
might say the housing recovery is done, and that from here on out, further house price gains are either (if slow) the growth of prices with incomes, or (if fast) the next bubble inflating.
What do you say? And WHY? Opinions are a dime a dozen, what is your
analysis?