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by CareyBot

Editor's note: The Washington, D.C.-based Center for Economic and Policy Research is sponsoring an essay contest on "Why there is no housing bubble." The winner will win $1,000. Send a copy of your entry to for possible publication on Inman News. I am a commercial real estate broker and an investor in multifamily and commercial properties. I am entering the Center for Economic and Policy Research's contest, although I guess I won't win because as I am not in disagreement with some aspects of the center's position that there is a housing bubble. I find the most room for argument in the statement: "No one has yet produced a remotely plausible explanation of how fundamental factors can lead to a run-up in home sale prices, but not in rental prices." Actually this is simp...