“This is very much like the bubble in synthetic asset-backed CDOs before the Great Financial Crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows based on Nobel-approved models of risk that proved to be untrue.”Models of risk that prove to be UNTRUE.

Sorry, no data......from my view:If one earned money from which to "fix-flip"(unless you have a Gen Contractors lic, have side time... whatever), my opinion, [CAUTION] South Florida is nonsense clown act, (synthetic growth), Irma money is overbuilding / lifting a false R/E data market, and thanks to local tax multipliers are up 1-2 points; only adds to "comfort levels" if looking at SOUTH FL,  Monroe/Miami-Dade / Broward , etc, the East coast of the State has no industry to fund usual and customary lease terms.