Housing market speculative bubble and how to recognize it

What is it? It's a whole process, starting with cheap credit and greater interest in real estate, which makes properties slowly become more and more expensive. At this stage, speculative investors enter, along with those who buy out of fear that "the train will leave without them" – it's like the calm before the storm. Prices skyrocket without any clear reason. Later, some investors start to see the risk and sell their apartments to make a profit - they made it in time, and then it's just the storm - the bubble bursts - demand drastically drops, the market starts lacking willing buyers, and prices plummet. How do you know the bubble is about to burst? Put your emotions aside and think coldly. Are individual listings staying up longer and longer? Are cash buyers or even those with credit capacity starting to dry up? Are there fewer and fewer direct offers?