I was on the Bubble Bandwagon for a while, becasue it sure looked like one, but the fundamentals are supporting more of a solid, permanent change. The boys over at Bridgewater (who know a thing or two about things) are saying that soon the US will be where Europe was 20 years ago, with 45% of income going to housing, and married couples living with their parents for many years before buying their own home. It's at 20% now, so that leaves a lot of room for price expansion.
Of course, that has nothing to do with Sugarbush, so I'll leave it at that.