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No.
Again, I have to ask…where exactly do you go to business school.
Because they've obviously skipped a few chapters of the economic history of humanity.
Unless you're of the EMH school that says there's no such thing as a bubble to begin with, this one seems like a recurrent problem that's exacerbated by foolish government policies subsidizing home ownership. We may as well except that there's about a once in a generational bubble on home prices as a result. If not across the country, certainly somewhere locally (Las Vegas, Florida, etc).
Our economy, be it national or the world, goes in waves. There will always be rises and falls in the economy. There will always be economic bubbles – be it in the home market or something else – and those bubbles do always burst, go flat, then heal themselves and rise again.
The answer to the question is yes.