The AirBnB Bubble Popping Will Pop the Housing Bubble

This is how bubbles collapse: the "vital few" 4% sell at whatever the market will bear, pushing prices down, and the 64% awaken to the rapidly narrowing window for locking in bubble capital gains.

Here's how we can tell if a speculative bubble is a bubble: everyone says it isn't a bubble--the market has reached a "permanently high plateau" because valuations are now fairly priced, etc.

Housing globally is in a bubble (See chart below) which we're constantly assured isn't a bubble. As I discussed yesterday ( The Problem Isn't a Housing Shortage, It…