Track your city here - this new blog shows charts by city where housing values deviate from the mean. He also shows what % housing must drop to revert to the mean.
A picture is worth a thousand words they say. Check out Miami's chart. Amazing.
http://overvalued.blogspot.com/
He's evidently doing city by city - this isn't a ranking, just city analyses one by one. However, where's Phoenix? Can't wait to see that one.
January 06, 2006
Excellent new blog: Most overvalued housing markets charted vs. mean
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4 comments:
Damn, I knew Chicago was overvalued, but 37%?! That means the current two-flat that I'm renting in should be 500,000 not 800,000. Damn. Could you imagine the look on my landlord's face if the bank asks him for 300 grand back when the market corrects?
I love this site! And thankyou for the great new link.
Keith,
I have just posted Phoenix on the overvalued site.
Boy, it is one ugly chart. Prices have been rising vertically. What has been going on down there in Phoenix.
returntodc
I keep hearing the negatives. The 4 areas i'm familiar with our still trending up. I don't need stats or realtor to tell me bubble or no bubble.
austin- up
socal-los angeles,oc,san fernando valley, ventura, santa clarita etc- all up
hawaii maui- up
salt lake city - up
All of these areas still are moving
up and plenty of buyers. no gloom and doom. alot of the socal areas have buyers with multiple families purchasing together and living together i've seen more and more of this the last 4 years.
2 or 3 years before we see any real drop in prices. The interest only holders will hold on for a while. Most of these loans we locked for 5 years starting back in 02,03,04, which means 07,08,09 due. I keep hearing rates are up, what rate, rates 30year and adjustables are real close to there lows but i keep hearing rates are up. Lastly i think the only issue is will foreigners keep buying our debt, thats the real question.
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