What is so bad about bubbles? If the price of Internet stocks or housing rises and then

Question:

What is so bad about bubbles? If the price of Internet or housing rises and then falls, is that such a big problem? After all, some people say, most of the gains going up are “paper gains” and most of the losses going down are “paper losses.” Comment on this view.
Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...