California 'Double Bubble' Forming?

Quickly rising home prices have some people wondering if California real estate is experiencing another bubble -- and is soon headed for another crash.

It's not, says Don Faught, the president of the California Association of Realtors, who was in Fresno on Friday. Too many factors are different this time around, he said at a meeting at the San Joaquin Country Club.

Talk of such a "double bubble" stems from rising home prices. The median home price in Fresno rose 19% over the last two years, the Fresno Association of Realtors reported at a a recent real estate forecast. Prices have risen at a similarly speedy rate statewide.

Read More...