The real estate boom in big cities is difficult to boost the U.S. housing market, and the overall economy is still severely dragged down

The real estate boom in big cities is difficult to boost the U.S. housing market. The overall economy is still severely dragged down. Real estate in some big cities has entered a boom period again, with competition in places such as San Francisco and New York...

Real estate in some big cities has entered a boom period again, with bidding wars occurring in places such as San Francisco and New York. Therefore, some people question whether the real estate market is not about recovery, but whether a new bubble will appear. But the other side of reality is more important to the national economy: the housing market is still a drag on the economy in most places.

Residential investment remains lower as a share of the economy than at any time since World War II, and contributes less to economic growth than during the wave of hundreds of mortgage lender failures in the early 1990s, and even lower than the decline of the early 1980s, when mortgage rates topped 20%.