World’s Riskiest Housing Markets
According to Swiss investment bank UBS, the world-class cities with overvalued real estate markets in 2020 are Europe, Canada, and Asia.
Among American cities, Los Angeles is considered at the highest risk of being in a bubble. The remaining cities include San Francisco Bay Area, New York City, Boston, and Chicago. In fact, the Bay Area’s risk level has decreased in each of the last 3 years. This means home price appreciation has leveled off while income levels remain high. East Coast cities have seen more stability in recent years. Unfortunately, the risk level has generally been increasing in Los Angeles.