Prices of assets rise in a bubble. That's part of the definition.
Were Florida condos in a bubble between 2002 and 2005? Yes. Did everyone know it was a bubble then? No. Do most people know it now? Yes.
BTW, Iwal, I think you would find that Yahoo would now once again accept your screenname IWAL238831. I've been switching back and forth today because sometimes Yahoo gives me a problem with one of my names and then it gives me a problem with the other. What a lousy company Yahoo is, huh? It's an OLD company, right?