If you’ve been trying to buy a house recently on either of the U.S. coasts, you’ve probably been shocked at both prices and their rates of increase. There’s much speculation that the market is in the midst of a “bubble,” with the real question being when it’s going to burst. Now two researchers have published a paper that states that (1) yes, 22 U.S. states are experiencing a bubble, and (2) it’s probably going to burst around mid-2006.
Didier Sornette’s and Wei-Xing Zhou’s analysis differs from just two years ago, when there was no sign of the faster-than-exponential growth characteristic of a bubble. Their conclusions are strengthened by their successful prediction of a housing bubble in the United Kingdom in 2003, where housing prices began dropping in July 2004. Their analysis is nifty, and the mathematics are simple and straightforward. “Soon” might be a good time to sell.
Five poems about the mind
Work reinvented: Tech will drive the office evolution
As organizations navigate a new world of hybrid work, tech innovation will be crucial for employee connection and collaboration.
Investing in people is key to successful transformation
People-related factors like talent attraction and retention and clear top-down communication will determine whether your transformation progresses or stalls.
Be a good example
"It was in the newspaper, but the towers fell the next day, and what I’d done was quickly lost."
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.