The latest home price data from the Federal Housing Finance Agency indicates that the most recent housing bubble has peaked and prices are now declining in expensive housing markets such as those in California, Hawaii, and Washington. This is an indication that the nation may be headed into a recession.
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In contrast, prices continue to slowly increase in more affordable housing markets such as those in Indiana, North Carolina, and Texas. This difference is a result of the amount of rural land-use regulation in these states. Continue reading
