Updated: Jun 3, 2021
“A real estate bubble happens when home prices rise at a rapid rate to a level of instability. They typically begin when there’s a shortage of inventory and an increase in demand in a market, which pushes prices higher and causes more buyers to jump into the market on speculation that prices will continue to soar. Eventually, prices get to an unsustainable level -- that’s when demand plummets, supply increases, and prices can fall drastically, effectively bursting the bubble.”
So are we in a bubble or not? Check out the article to get the two cents of economists and real estate experts.