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Real estate bubble an international topic

U.S. housing market has global reach

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The size, elasticity, mortality and, in fact, the very existence of housing bubbles are topics of debate and discussion among U.S. real estate experts. These same conversations are taking place at a global level, too, with questions of whether rapid inflation of home prices in multiple nations marks the existence of a global housing bubble. Mark Lee Levine, director of the Burns School of Real Estate and Construction Management at the University of Denver in Colorado, said bubble-talk is not unique to the United States. But the factors driving home prices in specific markets are so varied, within the U.S. and within other nations, that the question of bubbles becomes a very complicated answer, he said. Limited land availability and conservative land use policies can cause spikes in prices, for example, Levine said. "Sometimes you have artificial controls and sometimes you have physical controls. There is only so much land in Singapore. You've got a limitation on the amount of opportun...