Are we experiencing a housing bubble or are the inflated prices just a reflection of Australia's population growth, relatively low unemployment rates and low interest rates? One in seven of us are negatively gearing investment properties and buying into the "own it all" motto. With good reason too - the tax incentives are creating this appetite. Many other countries are experiencing similar problems and have employed various strategies but perhaps it's time we accepted that this is a long-term issue and we need to adjust our perception of what constitutes acceptable housing in inner city suburbs?