European real estate bubble?

[RuleNumberOne]

https://www.cnbc.com/2019/05/31/european-real-estate-bubble-a-real-possibility-commerzbank-says.html

 

European home prices have been going up for the last 5 years, and the increase is accelerating. Price increases are in the high single digits in some EU countries.

 

Negative rates and "low inflation" are the only things we hear out of Europe. What about home prices?

 

Are we already in a bubble? Or when would it be called a bubble? When will it pop? Housing is over 40% of the US CPI. The usage of "imputed rents" masked the US housing bubble.

 

"Slovenia and Latvia saw double-digit rises. Portugal, the Netherlands and Luxembourg all rose at almost 10% rates."