Boston is showing the common symptoms of a housing market on the verge of a housing bubble: home prices are soaring, open houses are packed and biding wars are back in style. Per the Boston Globe:
A recent report by a Florida property valuation firm suggests that Massachusetts is among the places — 13 states and the District of Columbia — where home prices are rising far faster than the cost of building or renting a home. The widening gap could be an early warning sign that the state is creeping back into another bubble, said David Macpherson, an economist with Smithfield & Wainwright, which values real state for regulatory agencies and financial institutions.
The article explained that although the prices are not back to where they were in 2006, it is starting to show early signs of it.
