[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$frs9jovt79hoc":3,"$ffeh0925h8cuz":43,"$f2emv3tus0uf1":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},382,"most-experts-agree-there-is-no-housing-bubble","Most Experts Agree: There is No Housing Bubble","There is no doubt that home prices in the vast majority of housing markets across the country are continuing to increase on a month over month basis. The following map (based on data from the latest \u003Cem>CoreLogic\u003C\u002Fem> pricing report) reveals the appreciation level by state:\r\n\r\n","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F09\u002F01162137\u002FEconomists-Agree.jpg","There is no doubt that home prices in the vast majority of housing markets across the country are continuing to increase on a month over month basis. The following map (based on data from the latest \u003Cem>CoreLogic\u003C\u002Fem> pricing report) reveals the appreciation level by state:\r\n\r\n\u003C!--more-->\r\n\r\n\u003Cimg class=\"alignnone wp-image-31806\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F09\u002F1-month-price-change.jpg\" alt=\"One Month Price Change Map | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\r\n\r\nThese increases in value have caused some to be concerned about a new price bubble forming in residential real estate. Here are quotes from many of the most respected voices in the housing industry regarding the issue:\r\n\u003Ch4>\u003Cstrong>Nick Timiraos, reporter at the \u003Cem>Wall Street Journal\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“Predictions of a new national home price bubble look unfounded for now, according to data.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Michael Fratantoni, Chief Economist, the \u003Cem>Mortgage Bankers Association\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“I don’t really see it as a bubble.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Jack M. Guttentag, Professor of Finance Emeritus at the \u003Cem>Wharton School of the University of Pennsylvania\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“My view is that we are a long way from another house price bubble.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Rajeev Dhawan, Director of Economic Forecasting Center at \u003Cem>J. Mack Robinson College of Business, Georgia State University\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“To have a bubble, you need to have construction rates higher than the perceived demand, which is what happened in 2003 to 2007. Right now, however, we have the reverse of that.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Victor Calanog, Chief Economist, \u003Cem>Reis\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“The housing market has yet to show evidence of systematic runaway asset price inflation characterized by home prices rising much faster than household income.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>David M. Blitzer, Chairman of the Index Committee for \u003Cem>S&P Dow Jones\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“I would describe this as a rebound in home prices, not a bubble and not a reason to be fearful.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Andrew Nelson, US Chief Economist, \u003Cem>Colliers International\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>\"I don't think there is a housing bubble.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>George Raitu, Director, Quantitative & Commercial Research, \u003Cem>NAR\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“We do not consider the current market conditions to present a bubble.\"\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Christopher Thornberg, Founding Partner, \u003Cem>Beacon Economics\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>\"The housing market is far from overheated.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>So why have prices been increasing?\u003C\u002Fstrong>\u003C\u002Fh3>\r\nToday, there is a gap between supply (number of houses on the market) and demand (the number of buyers looking for a new home). In any market, this would cause values to increase. Here are some experts’ comments on this issue:\r\n\u003Ch4>\u003Cstrong>Jonathan Smoke, \u003Cem>realtor.com\u003C\u002Fem> Chief Economist:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“So does that mean we’re in a bubble? Nope, that’s just what happens when demand increases faster than supply.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Robert Bach, Director of Research – \u003Cem>Americas, Newmark Grubb Knight Frank\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>\"I don’t think the housing market is overheated based on demand and supply fundamentals.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Mark Dotzour, Chief Economist, Real Estate Center, \u003Cem>Texas A&M University\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>\"We are not in a housing bubble. We are in a situation where demand for houses is much higher than supply.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Calvin Schnure, SVP of Research & Economic Analysis,\u003C\u002Fstrong>\u003Cem>\u003Cstrong> NAREIT:\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fh4>\r\n\u003Cblockquote>\u003Cem>“Given all the demand and little supply the residential market is FAR from overheated.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nCurrently, there is an imbalance between supply and demand for housing. This has created a natural increase in values not a bubble in prices.","\r\nCurrently, there is an imbalance between supply and demand for housing. 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