MICHELLE MEYER: The Housing Market Isn't Developing Into A Bubble

Home prices have begun to gather steam. Economists expect prices to rise 8% in 2013.

But some are anxious about another housing bubble. Robert Shiller has said that some markets like Las Vegas look frothy.

In her new list of four hot housing topics, Bank of America economist Michelle Meyer explains why she doesn't expect a housing bubble this time around.

She notes that valuation, price expectations, leverage, and investor speculation do not support the bubble case. "We believe in the housing recovery," wrote Meyer.

She elaborates on her skepticism toward a housing bubble, which is just one of four hot housing topics that Meyer thinks investors need to watch.