American housing markets are at long last recovering from the epic bust that began in 2006. Sales, prices, and construction all seem to have reached a cyclical bottom. Some analysts reckon that a new boom and, possibly, bubble could be inflating, born of tight supply and low interest rates. Robert Shiller is skeptical, noting that while indicators are strengthening, there is little reason to think that short-run momentum must lead to a more sustained price boom.
Another housing bubble in the making?
Source: The Economist