US home prices rose on a year-over-year basis for the 8th straight month in February (the latest Case-Shiller data point), surging 11.94% YoY (better than the 11.80% expected)...

Source: Bloomberg

Phoenix and San Diego lead the charge in terms of price appreciation but as we note below, all major cities are seeing home price inflation at multiples of The Fed's mandate. Even the "cheapest" homes in America are growing at four times The Fed's inflation target