Barrons: Housing Market Looks Like a Bubble. It’s Time for the Fed to Worry14774
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|Barrons (28 April 2021) The Housing Market Looks Like a Bubble. It’s Time for the Fed to Worry.
Strong housing and mortgage activity argues against the Fed effectively subsidizing a sector that is near bubble territory. According to the Home Price Appreciation Index from the American Enterprise Institute, prices are up 12.6% in the 12 months through March, a doubling of the pace from a year ago. Among various markets, Phoenix was up 17.7% while the smallest gain was in the New York metro area with a 7.0% rise.
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