This analysis of the largest metropolitan areas in the country reveals high housing prices spilling over into many parts of the country not located on the coasts.
"In some U.S. cities, home values might be climbing at a rate that could prove disastrously unsustainable," according to an article by Michael B. Sauter.
While that point might be obvious in cities like San Francisco, Boston, or Washington, D.C., the point here is that the housing crisis is ready to spill over into many more corners of the country.
"Reviewing quarterly median home price data for 123 metropolitan statistical areas from real estate data firm ATTOM Data Solutions, 24/7 Wall St. identified 15 U.S. metropolitan areas where home prices are at least 20% higher than at their nearest pre-recession peak. In several of these cities, prices are over 50% above that level," according to Sauter's explanation of the analysis reported in the article.
The concern about these rising prices, according to Sauter, is that an unaffordable market is the "hallmark of a housing bubble."
You'll have to click through to the entire list of 15 cities on the verge of a housing crisis, according to this analysis, but the metropolitan areas leading the list are all located in Colorado, listed in order, Greeley, Denver-Aurora-Lakewood, and Fort Collins.
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