in 2005, housing prices, median family home prices were 3500% above that long-term inflation train appeared we all know that the bubble went out of that. guess where they are today? we are over 30% above that long-term inflation trend. >> neil: there are a lot of people with homes that not nearly appreciate it as much as they would have like, out from being under, which is good news for them, but i don't know if i see a devil-may-care attitude, do you? >> you don't see the devil may care, you don't see the speculation. if you step out of the heartland, i think that the housing prices in the heartland in america have not appreciated as much as they have and san francisco, seattle, even where we are in whitefish, montana. just make him a prices are above where they were at the last bubble peak. we came down real hard after that. i think we are seeing some semblance. i think there is another warning