National City Corp, a financial holding company, conduct a Housing Market Analysis on 299 markets and found that over 65 of nation real estate markets are severely overpriced and subject to make a correction.
“National City arrives at its estimates of what the typical house in these markets should cost by examining the town’s population densities, local interest rates, and income levels. It also factors in historical premiums and discounts for each area.â€Â
According to the report, Naples and Florida are the most overvalued. You can click on the link here to read the news. They also provide a chart that showing how many percent that the value of a market is different to what it should be.
As a real estate investor I think we can miss this news. Since the Naples and Florida is overvalued and they are a high potential the price will be correct and I think this will affect the appreciation of local real estate value. Anyway just a piece of my mind.
Source : CNNMoney.com
Photo Source : Sallybeez
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There should be a date field on your posts.