Home prices across the country are rising, but most of the country still looks cheap historically. California, however, has several cities looking very expensive at the moment, and California housing trends can often be a bellwether for what's to come across the rest of the country. Do these sky-high prices in cities such as San Francisco and San Diego show that the U.S. is moving toward another housing bubble? In this video, Motley Fool analyst Austin Smith talks with Chris Hill to weigh the evidence for and against, and he tells us what he thinks home prices in California mean for the nation.

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