Housing bubble calculations?

So smart Science Blog readers, here’s a question: What are the best ways to determine whether a regional market is experiencing a housing market bubble? For example, rent-to-mortgage ratios. What else? Specifically, anyone want to venture whether Los Angeles, Calif. is in a bubble, or as the destination of most of the nation’s immigration, just doing what comes naturally? Reason: Yours truly is about to take the plunge on a 2-bedroom condo.

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