Fourteen of the top 100 U.S. markets, in terms of home prices, are now “above the long-term fundamental value for that market”. CNBS insists that  this is not a bubble, though in the opinion of this writer, the argument  — that bubbles ultimately pop, and just because home prices are over valued doesn’t mean that they’re going to come down — is more than a little bit fallacious. Still, if you’re not in one of those 14 markets, then the fact remains that fundamentals indicate there’s still room for growth.

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