CEO Speaks: Bubble Busting

AS THE HEAD OF HOMEBUILDER TOLL BROS. TELLS IT, THE HOUSING MARKET IS NOT ABOUT TO SLOW DOWN

Home prices have shown signs of sluggishness in Las Vegas and a handful of other markets, fueling the debate over whether we are in a dangerous housing bubble. TIME senior writer DANIEL KADLEC talked with Bob Toll, CEO of Toll Bros., one of the nation's largest luxury-home builders, who insists that any talk of a slowdown is premature.

TIME Let's start with the question you must be sick of: Is it a bubble?

BOB TOLL You're right. I am sick of it. No, we're not in a bubble. Prices have gone up because there has been tremendous constriction in supply along...

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