Jsou ceny domu nafouknutou bublinou?

Noviny z celého světa ohlašují, že ,,bublina výstavby domů" již brzy praskne. Economist zveřejnil řadu varovných článků s titulky jako ,,Zámky v horkém vzduchu". ,,Ceny bydlení letí vzhůru, což přiživuje obavy z prasknutí bubliny", hlaholil Wall Street Journal . ,,Bublina v oblasti nemovitostí ohrožuje růst", varoval Le Monde . ,,Bublina bydlení může otrávit vzduch", sýčkoval Sydney Morning Herald .

Jsou tyto obavy oprávněné? Jak poznáme, zda se trh bydlení ocitl v bublině?

Pojem ,,bublina" se často používá, ale jen zřídkakdy definuje. Bublina vzniká ve chvíli, kdy se očekávání budoucího zvýšení cen ze strany veřejnosti stane přehnaným, což vyšroubuje ceny na neudržitelnou úroveň. Jakmile k tomu dojde, mnozí lidé nakupují domy, aby je pronajímali jako investiční majetek, a mnozí další, kteří domy kupují za účelem bydlení, se rovněž chovají jako investoři v obavách, že budou-li čekat, zvyšující se ceny je vytlačí z trhu.

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