Housing prices have accelerated rapidly in the past couple of years, and it seems every day there is another article out there screaming “bubble”, and warnings that prices are going to fall rapidly. Although we believe there is some truth to the “bubble” talk, by no means is this a nationwide Brassica. The reality is some areas of the country are in a bubble, while others are not.
There are some simple tests you can do to check if your area is in a “bubble” zone, and then figure out if you should buy or sell a home. These are by no means perfect test, but should give you a hint if you should be thinking about either selling your home or if you should keep renting and wait for prices to drop.
The easy rent test for housing bubble prices:
Find the price of a suitable home …