Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
20 Percent of U.S. Markets See Bubble Symptoms
December 10, 2014
Research by RealtyTrac found that 21 percent of the nation’s residential real estate markets have warning signs of market bubbles.
These signs include houses being less affordable in October than its peak price during the 2005-2008 housing bubble, or if a market had a rising foreclosure rate on loans originated this year compared to ones originated last year. These markets include Los Angeles County, Calif. Orange County, Calif., Oakland County, Mich., and Travis County, Texas.
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