Are Home Prices Approaching Bubble Territory?

I received this email on 6/24/17 from a real estate agent’s list that I am subscribed to. As the article states based on the assumption that if real estate appreciated at a regular pace rather than as a boom and bust, we would be where we are today as far as home prices. A simple calculation based on the chart in this article (2017 median home price $250k / 2000 median home price $137k) shows that in 15 years homes have appreciated by about 182%! This assumes that the normal rate of appreciation for home prices is 12% per year?!!! Not bloody likely. This is definitely bubble territory and this article is misleading. Of course agents want their commissions and will post anything to make you think that buying now is a good idea. Be careful out there.