Why the housing boom isn’t a catastrophic financial bubble (yet)

The US housing market is red hot, as home prices grow by record amounts. Home-buying hopefuls have ample reason to be frustrated: Prices rocketed 16.6% across the nation in May from a year earlier, the second record jump in a row, according to the S&P CoreLogic Case-Shiller index. A big question is whether Covid pulled forward demand for suburban housing that would have been there anyway, or if there’s a new, lasting shift in behavior, says Craig Lazzara, global head of index investment strategy at S&P Dow Jones Indices.


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