A new paper by the Federal Reserve Bank of Dallas warns we may be in a housing bubble, driven by fear of missing out (FOMO) in the market as prices surge and mortgage rates rise. But it’s a tricky thing defining a bubble, and even then, bubbles don't necessarily pop — Rebecca Schuetz and Marissa Luck talk to Enrique Martinez-Garcia and Laila Assani, Dallas Fed economists, about how home prices are outstripping wages and rents and what that means for Texans.

Read the Dallas Fed paper:Real-Time Market Monitoring Finds Signs of Brewing U.S. Housing BubbleRead the story by Marissa Luck and Katherine Feser:Houston homebuyers grasping for any deal in red-hot market may get shut out by higher mortgages

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