Marketplace

Will the expanding housing bubble burst?

Housing construction is at a 21 year high. That news from the Commerce Department today. Interest rates are on the rise... but people keep buying houses. And what's more, prices keep going up. But hard to say why. Back in 1996, Alan Greenspan warned of Irrational Exuberance. He was talking about Wall Street. We know what happened there. Yale economist Robert Schiller recently updated his book on Irrational Exuberance. And he wondered if you could apply Greenspan's memorable warning to what's happening today with housing ...

house for sale (Tim Boyle/Getty Images)

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