The World's Biggest Housing Bubbles

"Goldman Sachs analysts spotlighted some of the world’s fast accelerating housing markets this week, in a bid to try to sniff out potential for problems in the making," writes Matt Phillips, who summarizes the dangerous conditions arising in Israel, Norway, Switzerland, Canada, and Germany.

"Since the depths of the Great Recession home prices in Israel are up roughly 40%. And the inability of young couples to get a foothold on the 'housing ladder' has become an increasingly politicized issue," he explains. Meanwhile, in Norway, "land use restrictions and relatively stringent minimum size and quality standards" have limited supply, driving "prices up roughly 30% since the worst of the Global Recession."