Sunday, February 20, 2005

Housing - Too hot, too cold, just right...

From CNN Money:

"These were the conclusions of study by Richard DeKaser, chief economist for National City Corp., who ranked 99 major real estate markets based on how much they are under or overpriced relative to what he deems "normal housing values."
...
His conclusion: 27 of the markets in his study are overvalued, 29 are undervalued and 43 are fairly valued, with prices no higher or lower than 10 percent of their fair value."


Is there a national housing bubble? Probably not. Are there localized bubbles - without a doubt, LA Metro is overheated. Oregon doesn't seem like a good bet right now either. The Midwest - Ohio, Indiana, Nebraska, Wisconsin - look like some bargains.

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