Is driving the bubble? Is it only housing?

As interest rates begin to rise, demand will taper. People are finally in a position to grab a home and Utah is a very desirable location for several reasons. Although I don't personally think we are in a boom, high profits generally attract entrants into the market looking to make a buck. This is when things can start to go a little fishy. IMO things have looked healthy thus far, but as soon as people start to enter, the chances for shady stuff increases. I do believe the Great Recession, Provided many rules to watch and keep in check lenders, servicers, etc. which will help keep the market healthy.