BiscottiGelato

Definition of a bubble is that a valuation is justified based on an assumption that seems to be bullet proof, but it's simply still a false assumption.

Assumption that rich immigrants are unlimited, and every immigrant will want to buy a place at current valuation and rental income return... I don't know if this is a solid unshakable assumption, or if's a false assumption. Unless one's as bright as the ones who called the housing bubble in the US, it's hard to tell a fundamental assumption, to one that looks like one, but is simply false and self-reinforced...