The World's Biggest Housing Bubbles

More than five years ago, the collapse of overinflated housing markets brought the global economy to its knees. Though some countries are still struggling to recover, the bubbles are back in others. Here are 5 of the world's largest housing bubbles.

1 minute read

October 27, 2013, 9:00 AM PDT

By Jonathan Nettler @nettsj


"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."  


Thursday, October 24, 2013 in Quartz

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 9, 2025 - Diana Ionescu

Map of Haussmann's redesign of Paris in the 1850s through 1870s under Napoleon III.

In Urban Planning, AI Prompting Could be the New Design Thinking

Creativity has long been key to great urban design. What if we see AI as our new creative partner?

June 30, 2025 - Tom Sanchez

View of dense apartment buildings on Seattle waterfront with high-rise buildings in background.

King County Supportive Housing Program Offers Hope for Unhoused Residents

The county is taking a ‘Housing First’ approach that prioritizes getting people into housing, then offering wraparound supportive services.

July 11 - Real Change

Aerial view of suburban housing near Las Vegas, Nevada.

Researchers Use AI to Get Clearer Picture of US Housing

Analysts are using artificial intelligence to supercharge their research by allowing them to comb through data faster. Though these AI tools can be error prone, they save time and housing researchers are optimistic about the future.

July 11 - Shelterforce Magazine

Green bike share bikes parked in a row on a commercial street with outdoor dining and greenery.

Making Shared Micromobility More Inclusive

Cities and shared mobility system operators can do more to include people with disabilities in planning and operations, per a new report.

July 11 - Cities Today