Home prices are soaring in many western U.S. markets. They're up 34% from a year ago in the Sacramento area, 33% in Las Vegas, and 31% in Oakland, according to data from the Trulia Price Monitor.
Is this a western housing bubble? That's the question I asked Jed Kolko, Trulia's chief economist.
We also talked about whether it's a better deal to buy or rent. Jed says, for now, buying is still a better deal than renting in most markets—but that could change as home prices keep rising.
Watch the video:
Produced by Business Insider Video
More From Business Insider
- Obama To Millennials Stuck Living At Home: I've Got Nothing For You
- Obama Should Stop Talking About How Great Homeownership Is
- The Supermarket Tycoon Who's Running For NYC Mayor Tells Us What He Really Thinks Of His Opponents