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I don't know if there is a national bubble, but I do think that there are some local markets they may be in one.
Signs of a housing bubble?
MA home sales decline by 11.1 percent
Talk of a housing bubble may be a self-fulfilling prophecy (scare off buyers)
Economists at the Merrill Lynch investment firm, the University of Maryland and the UCLA Anderson Forecast all claim that the bubble is hear or near.
Foreign markets are starting to see cooling
In California the rent v. own ratio is growing further apart (meaning people can't even cover interest payments with the rent they could get)
Home prices have risen far above incomes in 30 of the nation's top 52 metropolitan areas.
Large numbers of people are using "creative" mortgages to get into homes.
The Anderson Forecast warns that the construction of new homes is outstripping the natural growth of the population.
In some markets, prices have risen about 75 percent since the start of 2001.
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