Tiny housing bubble may be forming amid buying pressure

By Dan McSwain6:07 P.M.JUNE 1, 2013

Is the San Diego housing market blowing another bubble?

It quite probably is, but it’s still a great time to buy a home. In a market that is unusually prone to boom and bust, we are very early in the process, judging by market fundamentals.

Indeed, our latest bubble is minuscule compared to the global bank-wrecker that triggered the Great Recession. Yet it’s still worth taking seriously. The questions now are how big it will get, when it will eventually pop, and what — if anything — you should do about it.

For families who dream of buying a home for the long run, bubble risk should be way down the list of considerations. Except for last year, now is the best time to buy since 1997. Mortgages are near historic lows, but rising, while prices are climbing fast from their lowest levels in a decade.

 

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