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San Diego Rises in 'Bubble' Rankings

SAN DIEGO-The city climbs to third place on PMI Mortgage Insurance Co.'s US Market Risk Index. It's the latest entry in the continuing debate over a topic with broad implications for commercial real estate investment.

By Amanda Paxson | Updated on July 28, 2005

SAN DIEGO-The city has climbed to third place on PMI Mortgage Insurance Co.’s US Market Risk Index issued Thursday. PMI’s US Market Risk Index, which reports the risk of housing price declines, says that risk has increased in more than half of the nation’s 50 largest housing markets, including San Diego.

PMI’s report adds the latest fuel to the fire in the ongoing debate about whether some of the country’s housing markets are headed for a bubble and what the implications of that bubble may be. Economists and commercial real estate industry leaders have said that the prospect of a housing bubble has broad implications for commercial real estate, but they have also questioned the notion that a bubble is on the horizon.

San Diego is one of four California markets that have a greater than 50% chance of a decline in home prices, according to the PMI report. The others are San Jose, Santa Ana and Oakland.

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