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Peter Morici: Here’s where the next financial crisis is lurking

Animal spirits are running high.

President Donald Trump’s promises to repeal Obamacare, cut taxes, and roll back regulations have supercharged stock prices and business optimism. However, history teaches when expectations are most buoyant, investors and decision makers are inclined to overlook dangers in specific markets that could abscess into a systemic collapse.

Here are five problems that could saddle Trump with the next financial crisis.

Housing Bubble

Home prices and property values have soared in big cities where the economic recovery has been strongest — aided by low mortgage rates and Dodd-Frank regulations that push banks toward lending to the upper middle class and wealthy.

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