Are Housing Markets in Danger of Another Housing Bubble?
Recent research results provided by CoreLogic are pointing towards the potential for another housing bubble development. Some overvalued real estate markets could be in danger.
"The best antidote for rising home prices is additional supply," Frank Nothaft, chief economist for CoreLogic, said in a press release, according to National Mortgage News.
"New construction has failed to keep up with and meet new housing growth or replace existing inventory. More construction of for-sale and rental housing will alleviate housing cost pressures."
NMN outlined 12 of the overvalued markets that are in danger and they include: Phoenix, AZ; Tampa, FL; Riverside, California; Portland, OR; Los Angeles, CA and a few more.
While CoreLogic believes that some areas could see a slower rate of appreciation, the company also stated that in some individual local markets, there could be a massive spike, according to the report.
To check out the complete list of the 12 overvalued housing markets that are in danger of another housing bubble, click on the image above.
