A report from UBS finds that housing markets in 18 of 25 major cities around the globe are overvalued and seven of them are bloated enough to be considered a bubble risk. All but two of the potential bubbles are in Europe, with Munich rated the riskiest, followed by Frankfurt, Toronto, Hong Kong, Paris, Amsterdam and Zurich. The risk of a bubble in four of those seven cities has either remained the same or decreased
source https://therealdeal.com/2020/10/04/these-global-cities-are-at-biggest-risk-of-a-housing-bubble/
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