In 2024, Miami was the housing market most at risk, with a real estate bubble index score of ****. Tokyo and Zurich followed close behind with **** and ****, respectively. Any market with an index score of *** or higher was deemed to be a bubble risk zone.

Portugal, Italy, Ireland, Greece, and Spain were widely considered the Eurozone's weakest economies during the Great Recession and subsequent Eurozone debt crisis. These countries were grouped together due to the similarities in their economic crises, with much of them driven by house price bubbles which had inflated over the early 2000s, before bursting in 2007 due to the Global Financial Crisis. Entry into the Euro currency by 2002 had meant that banks could lend to house buyers in these countries at greatly reduced rates of interest.

This reduction in the cost of financing contributed to creating housing bubbles, which were further boosted by pro-cyclical housing policies among many of the countries' governments. In spite of these economies experiencing similar economic problems during the crisis, Italy and Portugal did not experience housing bubbles in the same way in which Greece, Ireland, and Spain did. In the latter countries, their real housing prices (which are adjusted for inflation) peaked in 2007, before quickly declining during the recession. In particular, house prices in Ireland dropped by over 40 percent from their peak in 2007 to 2011.

Graph and download economic data for All-Transactions House Price Index for the United States (USSTHPI) from Q1 1975 to Q1 2025 about appraisers, HPI, housing, price index, indexes, price, and USA.

The number of home sales in the United States peaked in 2021 at almost ************* after steadily rising since 2018. Nevertheless, the market contracted in the following year, with transaction volumes falling to ***********. Home sales remained muted in 2024, with a mild increase expected in 2025 and 2026. A major factor driving this trend is the unprecedented increase in mortgage interest rates due to high inflation. How have U.S. home prices developed over time? The average sales price of new homes has also been rising since 2011. Buyer confidence seems to have recovered after the property crash, which has increased demand for homes and also the prices sellers are demanding for homes. At the same time, the affordability of U.S. homes has decreased. Both the number of existing and newly built homes sold has declined since the housing market boom during the coronavirus pandemic. Challenges in housing supply The number of housing units in the U.S. rose steadily between 1975 and 2005 but has remained fairly stable since then. Construction increased notably in the 1990s and early 2000s, with the number of construction starts steadily rising, before plummeting amid the infamous housing market crash. Housing starts slowly started to pick up in 2011, mirroring the economic recovery. In 2022, the supply of newly built homes plummeted again, as supply chain challenges following the COVID-19 pandemic and tariffs on essential construction materials such as steel and lumber led to prices soaring.

The housing prices in many Asian cities have grown rapidly since mid-2000s, leading to many reports of bubbles. However, such reports remain controversial as there is no widely accepted definition for a housing bubble. Previous studies have focused on indices, or assumed that home prices are lognomally distributed. Recently, Ohnishi et al. showed that the tail-end of the distribution of (Japan/Tokyo) becomes fatter during years where bubbles are suspected, but stop short of using this feature as a rigorous definition of a housing bubble. In this study, we look at housing transactions for Singapore (1995 to 2014) and Taiwan (2012 to 2014), and found strong evidence that the equilibrium home price distribution is a decaying exponential crossing over to a power law, after accounting for different housing types. We found positive deviations from the equilibrium distributions in Singapore condominiums and Zhu Zhai Da Lou in the Greater Taipei Area. These positive deviations are dragon kings, which thus provide us with an unambiguous and quantitative definition of housing bubbles. Also, the spatial-temporal dynamics show that bubble in Singapore is driven by price pulses in two investment districts. This finding provides a valuable insight for policymakers on implementation and evaluation of cooling measures.

This repository contains the data used to create the county-level figures in the following paper:

Gourevitch, J.D., Kousky, C., Liao, Y., Nolte, C., Pollack, A.B., Porter, J.R., & Weill, J.A. (2023). Unpriced climate risk and the potential consequences of overvaluation in US housing markets. Nature climate change, 13(3), 250-257.

Abstract:

Climate change impacts threaten the stability of the US housing market. In response to growing concerns that increasing costs of flooding are not fully captured in property values, we quantify the magnitude of unpriced flood risk in the housing market by comparing the empirical and economically efficient prices for properties at risk. We find that residential properties exposed to flood risk are overvalued by $121 – $237 billion, depending on the discount rate. In general, highly overvalued properties are concentrated in counties along the coast with no flood risk disclosure laws and where there is less concern about climate change. Low-income households are disproportionately at risk of losing home equity from price deflation, and municipalities that are heavily reliant on property taxes for revenue are vulnerable to budgetary shortfalls. The consequences of these financial risks will depend on policy choices that influence who bears the costs of climate change.

In 2023, the average price of real estate in China was approximately ****** yuan per square meter, representing a decrease from the previous year. Rising prices in the real estate market Since the 1998 housing reform, property prices in China have been rising continuously. Housing in the country is now often unaffordable, especially considering the modest per capita income of Chinese households. Shanghai and Beijing even have some of the most competitive real estate markets in the world. The rapid growth in housing prices has increased wealth among homeowners, while it also led to a culture of speculation among buyers and real estate developers. Housing was treated as investments, with owners expecting the prices to grow further every year. Risk factors The expectation of a steadily growing real estate market has created a property bubble and a potential debt crisis. As Chinese real estate giants, such as China Evergrande and Country Garden, operate by continuously acquiring land plots and initiating new projects, which often require substantial loans and investments, a slowdown in property demands or a decline in home prices can significantly affect the financial situation of these companies, putting China’s banks in a vulnerable position. In addition, due to a lack of regulations and monetary constraints, the long-term maintenance issues of high-rise apartments are also a concern to the sustainable development of China’s cities.

Housing Index in the United Kingdom decreased to 511.60 points in June from 511.80 points in May of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Chinese housing prices rose by over 10 percent per year in real terms between 2003 and 2014 and are now between two and ten times higher than the construction cost of apartments. At the same time, Chinese developers built 100 billion square feet of residential real estate. This boom has been accompanied by a large increase in the number of vacant homes, held by both developers and households. This boom may turn out to be a housing bubble followed by a crash, yet that future is far from certain. The demand for real estate in China is so strong that current prices might be sustainable, especially given the sparse alternative investments for Chinese households, so long as the level of new supply is radically curtailed. Whether that happens depends on the policies of the Chinese government, which must weigh the benefits of price stability against the costs of restricting urban growth.

Graph and download economic data for Residential Property Prices for Japan (QJPN628BIS) from Q1 1955 to Q4 2024 about Japan, residential, HPI, housing, price index, indexes, and price.

Housing Index in Taiwan decreased to 168.42 points in the first quarter of 2025 from 169.46 points in the fourth quarter of 2024. This dataset provides - Taiwan House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Housing Index in South Korea remained unchanged at 93 points in May. This dataset provides - South Korea House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows the share of average wages needed to buy a median priced home in the United States from the first quarter of 2005 to the third quarter of 2018. In the third quarter of 2018, the average earner needed to spend ** percent of their wages to buy a median-priced home in the United States.

Graph and download economic data for S&P CoreLogic Case-Shiller MA-Boston Home Price Index (BOXRSA) from Jan 1987 to Mar 2025 about Boston, NH, MA, HPI, housing, price index, indexes, price, and USA.

New Zealand has *** of the highest house price-to-income ratios in the world; nonetheless, since the first quarter of 2022, the country's house price-to-income ratio started to trend downward. In the third quarter of 2024, the ratio was ***, a slight decrease from the same quarter of the previous year. This ratio was calculated by dividing nominal house prices by nominal disposable income per head and is considered a measure of affordability. Homeownership dream New Zealand has been in what is widely considered a housing bubble. The disproportionately large increases in residential house prices have placed the dream of owning their own home out of reach for many in the country. In 2024, around ** percent of residential properties were sold for over a million New Zealand dollars. The majority of mortgage lending in the country went to owner-occupiers where the property was not their first home, with first-home buyers often struggling to secure a loan. In general, only New Zealand residents and citizens can buy homes in the country to live in, with new regulations tightening investment activity in that market. Rent affordability Due to New Zealand's high property prices, many individuals and families are stuck renting for prolonged periods. However, with rent prices increasing across the country and the share of monthly income spent on rent trending upwards in tandem with a highly competitive rental market, renting is becoming a less appealing prospect for many. The Auckland and Bay of Plenty regions had the highest weekly rent prices across the country as of December 2024, with the Southland region recording the lowest rent prices per week.

This article investigates the occurrence of gentrification in Brasília. There is criticism in relation to economic and social costs, to the effects of panoptic architecture in society, and especially to the State’s role and level of intervention, present in the high degree of urban regulation and in the monopoly of the land market. All these factors restrict the housing supply, and result in a pattern of territorial occupation framed in the city model called COM-FUSA (CON-FUSED), compact and diffused in the territory. Widespread gentrification is perceived in the statement that Brasília is the automobile city, which is revealed by the largest proportion of cars per inhabitants, and mainly by the amount of cars for use in the fields. It is observed that the housing deficit problem is not related to land scarcity, but to property scarcity.

Home Spirometry Bubble Blowing Game Market Outlook

According to our latest research, the global home spirometry bubble blowing game market size stood at USD 312.5 million in 2024, with a robust CAGR of 8.1% projected for the period 2025 to 2033. By the end of 2033, the market is forecasted to reach USD 621.7 million. This strong growth trajectory is fueled by increasing awareness regarding pediatric respiratory health, the integration of gamification in home healthcare, and the rising prevalence of chronic respiratory conditions among children and adults alike.

The primary growth driver for the home spirometry bubble blowing game market is the escalating incidence of pediatric asthma and other respiratory ailments worldwide. With respiratory diseases becoming a significant public health concern, especially among children, the demand for innovative, user-friendly, and non-invasive monitoring solutions has surged. Home spirometry bubble blowing games offer a unique blend of entertainment and therapy, making respiratory exercises engaging for young patients. This approach not only enhances compliance but also provides accurate, real-time feedback to caregivers and healthcare professionals, facilitating early intervention and improved disease management.

Another crucial factor contributing to the market’s expansion is the growing adoption of digital health technologies and remote patient monitoring. The COVID-19 pandemic accelerated the shift towards home-based healthcare, prompting families and healthcare providers to seek alternatives to traditional in-clinic spirometry. Digital bubble blowing devices, equipped with Bluetooth connectivity and mobile app integration, have enabled seamless data sharing and telehealth consultations. This technological advancement has broadened the accessibility of respiratory therapy, particularly in underserved or remote regions, and is expected to remain a key growth catalyst in the coming years.

Furthermore, the integration of gamification principles into respiratory therapy has revolutionized patient engagement and therapy adherence. By transforming routine spirometry exercises into interactive games, these solutions reduce anxiety and boredom, especially among pediatric patients. The positive reinforcement provided by game mechanics not only motivates children to perform respiratory exercises regularly but also empowers parents and caregivers to monitor progress effectively. This paradigm shift towards patient-centric, enjoyable healthcare experiences is anticipated to drive sustained demand for home spirometry bubble blowing games across diverse demographic segments.

Regionally, North America currently dominates the home spirometry bubble blowing game market, accounting for the largest market share in 2024, followed by Europe and Asia Pacific. The high prevalence of pediatric respiratory diseases, advanced healthcare infrastructure, and early adoption of digital health solutions underpin the region’s leadership. However, Asia Pacific is projected to witness the fastest growth over the forecast period, driven by increasing healthcare investments, rising awareness, and a burgeoning pediatric population. Latin America and the Middle East & Africa are also emerging as promising markets, supported by improving access to healthcare and growing emphasis on preventive health measures.

Product Type Analysis

The home spirometry bubble blowing game market is segmented by product type into digital bubble blowing devices and manual bubble blowing kits. Digital devices have witnessed remarkable uptake in recent years, owing to their ability to provide real-time respiratory data, interactive feedback, and seamless integration with smartphones and tablets. These devices often feature gamified interfaces, progress tracking, and cloud-based data storage, making them highly appealing to both pediatric patients and their caregivers. The technological sophistication of digital products not only enhances user engagement

After a long period of steady increase in real estate prices in Spain, the market was hit by the global financial crisis of 2007, resulting in the burst of the Spanish property bubble. House prices have since picked up and in 2023, the average square meter price reached 2,809 euros - just slightly below 2008 levels. Though prices have risen across the whole country, some regions, such as the Balearic Islands, Catalonia, Madrid, and Andalusia, experienced faster growth than others. Additionally, the gap between newly built and existing home prices has widened. Spain’s real estate market behind others The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Czechia and Portugal. Supply is a major factor influencing the price development. Many European countries suffer housing shortages due to sluggish construction activity, and Spain is no exception. In 2022, ranked among the countries with the lowest number of residential construction starts per 1,000 citizens in Europe. Buying vs renting As happens with many other countries, the affordability of buying a home and renting will differ considerably dependent on the area. In 2022, the average Spanish citizen needed between five and 18 years to purchase an average priced property in their region with their full salary, with Murcia and La Rioja being the most affordable regions. The house price to rent index shows that house price growth has been much faster than rental growth. That is good news for homeowners whose homes appreciate over time, but an issue for renters who are yet to purchase a property.

The home mortgage debt of households and nonprofit organizations amounted to approximately 13.3 trillion U.S. dollars in the first quarter of 2024. Mortgage debt has been growing steadily since 2014, when it was less than 10 billion U.S. dollars and has increased at a faster rate since the beginning of the coronavirus pandemic due to the housing market boom. Home mortgage sector in the United States Home mortgage sector debt in the United States has been steadily growing in recent years and is beginning to come out of a period of great difficulty and problems presented to it by the economic crisis of 2008. For the previous generations in the United States, the real estate market was quite stable. Financial institutions were extending credit to millions of families and allowed them to achieve ownership of their own homes. The growth of the subprime mortgages and, which went some way to contributing to the record of the highest US homeownership rate since records began, meant that many families deemed to be not quite creditworthy were provided the opportunity to purchase homes. The rate of home mortgage sector debt rose in the United States as a direct result of the less stringent controls that resulted from the vetted and extended terms from which loans originated. There was a great deal more liquidity in the market, which allowed greater access to new mortgages. The practice of packaging mortgages into securities, and their subsequent sale into the secondary market as a way of shifting risk, was to be a major factor in the formation of the American housing bubble, one of the greatest contributing factors to the global financial meltdown of 2008.

Graph and download economic data for Interest Rates and Price Indexes; Multi-Family Real Estate Apartment Price Index, Level (BOGZ1FL075035403Q) from Q4 1985 to Q1 2025 about multifamily, real estate, family, interest rate, interest, rate, price index, indexes, price, and USA.