With lower expectations, the bubble would not have been so large, and the burst would not have drowned the players and fans so irrepressibly and fatally.

FORBES: Why Experts Failed To Predict Cowboy's Failures And Why Phillips Had To Go

For starters, when U.S. housing prices were rising, the government actively took part in inflating the real estate bubble by pushing rates lower and offering zero-down loans (subprime) to middle to low-income buyers.

FORBES: China's Non-Bubble Housing Bubble

Despite an uptick in residential construction starts this year, activity is still about 50% lower than a healthy (non-bubble) market requires.

FORBES: Surprise! Some Cities Are Actually Experiencing Housing Shortages