Ask HN: The difference between “overvalued” and “that's how much it is now”?

I'm particularly interested in housing prices, but if it's different for other industries I'd love to understand that as well.

It's strangely hard to find a good answer. Googling yields "housing is overvalued (2011)", ... "housing is overvalued (2014)", ... "housing is overvalued (2018)" but with no particularly rigorous explanation on why, nor the difference between "overvalued" and "yep, that's normal now".

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Comments URL: https://news.ycombinator.com/item?id=18148028

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