The real estate market has come full circle in some Southern California cities. DataQuick, a real estate data firm, finds that home prices in certain SoCal zip codes have surpassed their housing bubble peaks. Most of these areas are concentrated in the San Gabriel Valley and the Westside--driven largely by Asian buyers and high tech professionals, respectively.
Trulia, a real estate website, recently released their rankings on the most overvalued housing markets in the nation. Los Angeles, Orange County, Riverside-San Bernardino made the top 5.
Is California in the midst of another housing bubble?
Richard Green, Director and Chair of the USC Lusk Center for Real Estate
Chris Thornberg, Principal, Beacon Economics