According to the 2006 HSBC report, A Froth-Finding Mission, Detecting US Housing Bubbles and associated spreadsheet model, not all local real estate bubbles are created equal. In fact, the Case Shiller Index reveals that a handful of metro markets may well be seeing price recoveries. Denver, for example, looks to be one of those on the leading edge of the recovery, having potentially already come through the worst of it. Others, such as my own San Francisco, have yet to really even start into an honest correction cycle (another CSI view of superbubble San Francisco).
Is it time to start investing, or at least preparing to invest in non-bubbly metro areas?
(Topic suggested by a reader)