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August 18, 2005
"High-priced housing faces risks"
Interesting list in USA Today
Fifty-three metropolitan areas representing 31% of the total U.S. housing market are considered extremely overvalued and confront a high risk of future price corrections, a study conducted by National City Corp. says. The study determines a market extremely overvalued if prices are 30% above where the study estimates they should be based on historic price data, area income, mortgage rates and population density.
DC is # 49 at 31% overvalued. Denver is 116 at 16%.
Posted at August 18, 2005 11:39 AM | Categories: Economics
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