Trends in US housing market
Global Insight, an economic forecasting firm, recently joined with National City Corp. to produce the latest in their ongoing series of “State of the Housing Market” reports which contained some interesting charts and graphics that, as the cliche goes, are worth a thousand words. Here’s a look at housing price appreciation in the first quarter, shown on an annualized basis. Green areas are still rising in value, yellow are static, and red areas show markets where prices are declining. Lotta red, isn’t it? “” Global Insight also makes calculations as to the percentage of homes that are “affordable” and “unaffordable” (This would take 1,000 words to describe, so just go with me on this one). Perhaps surprising, the economists there calculate that the percentage of homes that are “overvalued” has come down sharply, to 25% in dollar terms and 14% in unit terms. Hmmm. Do you buy that? Here’s the chart showing the trend line… “” Global Insight also produced a nifty national chart showing which regions are overvalued, which are undervalued, and by how much…
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