Another valuation report

Dean Foust

There's yet another report out trying to assess which local housing markets are overvalued, this one by the economists at National City Corp., a Cleveland-based bank. The author of the report, National City chief economist Richard DeKaser, considers a market to be overvalued when prices exceed the statistical norms by 30% (he notes that this was the threshold that preceed the 63 price declines actually observed over the past 20 years.)

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