|Are we trapped in another housing bubble? A rapid rise in home prices has some experts worried|
Home prices are rising coast to coast and are outstripping wages and rents. Some say it's another housing bubble. But it's nothing like the mid 2000s.
In the midst of a raging COVID-19 pandemic, with millions of Americans still out of work and facing the possibility of eviction and foreclosure, the United States is experiencing a real estate boom the likes of which it hasn't seen in 15 years.
Home prices are rising practically everywhere. From Augusta, Maine, to Phoenix and from Sarasota, Florida, to Aberdeen, Washington, prices are up by double digits.
Driven by historically low interest rates that make borrowing cheap and waves of people fleeing densely populated cities because of COVID-19, home buying has become as competitive as it was during the boom years of the mid-2000s.