Clearly, it is difficult to make a case for a housing price bubble in Austin or anyplace else in Texas, for that matter.

This level of activity should keep anyone involved in our industry very busy this year.

There's a real shortage of those properties down there. As a result, competition is strong for those tracts.

There has been a housing boom, but it is not a bubble. It is more like a soufflé with the air slowly leaking out.

I can honestly say that this is the best summary of the housing bubble I have come across, and I read a lot.

The 'bubble' is a gross misnomer, a mischaracterization. The idea that we're going to see a collapse in the housing market seems to me improbable,