Housing Bubble in Albuqueque?

No, according the the Wall Street Journal’s summary of economists’ rankings. The article (subcription) opens with a question:
“Can economics save you from losing your shirt in the housing market?”
It goes on:
“Spurred on by the growing concern that America’s housing market is heading for a crash, a number of top economists are producing lists that rank the metropolitan areas most likely to experience a sharp drop in housing prices. The problem is that these studies, which look at factors from local income to lending practices, come to strikingly different conclusions. Even so, the raft of data can provide useful clues for home buyers and investors wary of getting in at the top.”
Here are the rankings. Notice that Albuquerque is not on the list. But if you happen to be moving (say because of high taxes or the living wage) it should give you a clue about where not to buy a home.