The Fundamentals of the Housing Market

Germany was one of the few Western nations that didn't experience a house prices bubble in the 2000s. Unlike many other countries, sadly. Well, but they're arguably doing now. They're doing some catch up. So let's define what a bubble is. I mean, we all know colloquially a bubble is when the market price significantly or sufficiently departs from intrinsic value. That seems to be a very cool part of what people understand to be bubbles. But there are a few different approaches to measuring what that intrinsic value is. One of them is called the quote unquote fundamentals approach. Can you just give us an overview?