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Is There A New Housing Bubble In The Western U.S.?

Josh Barro

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.

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