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I disagree. It's just another housing bubble. That should be bleeding obvious from looking at the article's FRED chart. Scarcity was not suspended from 2007-2012 when the previous bubble collapsed and brought housing prices down to settle on long-term inflation as if the previous 10 years never even happened.

Blaming NIMBYism instead of loose debt looking for a safe haven is either a well-funded political agenda or mass hysteria of bloggers getting wound up on each others' articles.