Another housing bubble?

From the Antiplanner:

...The above graph shows the home price index for several metropolitan areas calculated by the Federal Housing Finance Agency using the Case-Shiller method. (The official Case-Shiller Index published by Standard & Poors doesn’t include as many metropolitan areas as the FHFA index.) It shows that not only are housing prices rising again, in some urban areas–on the chart---Honolulu, San Francisco-Oakland, San Jose, and Seattle–--already have prices much greater than they were at the peak of the 2006 bubble. It seems likely that these prices are going to crash again soon...