hmmm!, that's according to the results of a recent study real estate research firm Core Logic did for FORTUNE magazine.
Keep an eye on these ‘overvalued’ housing markets as the housing boom implodes
Fundamental economics tells us that home price growth and income growth are interwoven. Neither can outrun the other for very long. That is what’s concerning about the pandemic’s housing boom: Over the past year, home price growth (20.6%) is four times greater than income growth (4.8%). That disconnect has more economists flirting with the most hated two words in real estate: housing bubble.
Moody’s Analytics chief economist Mark Zandi tells Fortune it’s premature to use that term. A bubble, in his mind, would require both speculation-driven price growth and overvaluation...
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Keep an eye on these ‘overvalued’ housing markets as the housing boom implodes
John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164
Take care, stay well
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