Is the Denver market in a Bubble.....?

[Michael DeFrancesco]

New to BP and moving to Denver and hoping to begin my journey in REI.

Does anyone have an opinion on the market in and around the Denver area.  My understanding of it is that home values and rent prices have skyrocketed over the past 2-3 years.  Is that due to previous undervaluing or current overvaluing?  Also, is it a concern the amount of younger people moving to the area that may not be able to afford the increasing prices and eventually start moving away?  It appears that the new construction cannot keep up with increasing demand, causing bidding wars and such making it that much more expensive for new home buyers and investors.  

Is it wise for someone new to this type of investing to try to get in the game now or wait....?

Thank you in advance.