Bubble? What Bubble?

“We’ve got demographics supporting housing growth, we’ve got restricted supply in some places, so it’s truly understandable that prices will go up” (Ben Bernanke , July 2005);

“Our assessment is that there’s not much indication at this point that subprime mortgage issues have spread into the broader mortgage market, which still seems to be healthy”  (Ben Bernanke, February 2007)