It may become a motto among economists if frothy housing values around the world turn into a destabilizing bubble. UBS published its latest global real estate “bubble index” on Thursday, listing the major cities most at risk of housing bubbles. Canada took two of the top four spots, with Toronto on top and Vancouver at number four, and Northern Europe’s Munich and Stockholm sandwiched between. Concerns over asset bubbles have regained steam as improved world economic growth, low unemployment and ultra-low interest rates have pushed up asset values. Boston Federal Reserve President Eric Rosengren alluded to the dangers of high asset prices in a speech Wednesday, without referring specifically to housing.

Source: Wall Street Journal September 28, 2017 10:47 UTC