There is
a new blog on the block that will likely prove interesting. It's called "
America's Most Over-Valued Real Estate Markets". Check it out. Here is what the blogger has to say about the Bay Area:
San Francisco started enjoying a bubble before most cities. Things took off in the mid-1990s and got a little out of hand with the internet bubble. Prices calmed down after the dot.coms exploded, but accelerated after the Fed started to cut interest rates. Over the last year or so, prices have been increasing almost vertically. However, San Francisco has been through it before. The 1980s bubble finally burst in 1989, and prices fell for about five straight years.
And I enjoyed
one of his articles on a companion blog which summarizes the work of Hyman Minsky who identified seven stages of a financial bubble all of which sound too familiar.
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