Swiss bank UBS recently published its Global Real Estate Bubble Index.
Even though our numbers are slightly different (these numbers are shared with our clients), we come up to the same conclusion for many cities.
Some cities look seriously overpriced. We could cite London, Paris, Sidney or Hong Kong. Many US cities are still attractive especially Houston and Chicago.
However, as an investor you also need to take into account dynamics (population, jobs, tax system…) and when everything is included Houston appears to us as a clear winner.