May 26, 2017 New Housing Bubble

On May 26, 2017 The Los Angeles Times’ Andrew Khouri reported “L.A. County median home price ties record high as housing market sizzles”.”Prices are rising faster than incomes,” said Selma Hepp, chief economist with Los Angeles brokerage John Aaroe Group. “A lot of people are going to be pushed out.” Kevin Drum of Mother Jones displayed two maps from CoreLogic. They compare areas where homes are overvalued from 2006 and 2007. Jones said “This is the kind of thing that makes me think we might be back into a recession by 2018.”

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