Miami has been identified as the most overvalued housing market globally, according to a UBS report. The city has the highest bubble risk rating among 25 major metropolitan areas analyzed. Home prices have surged nearly 50% since the end of 2019, driven by wealthy buyers and a shortage of high-end homes. Despite some cooling due to rising mortgage rates, significant imbalances in the market persist. Concerns about rising insurance costs and sea levels also threaten future price stability. Other cities with high bubble risks include Tokyo and Zurich.
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