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.

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