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Home Prices Too High In 71 Cities...

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Home prices too high in 71 cities

Posted 6/13/2006 12:13 AM ET

By Sue Kirchhoff, USA TODAY

WASHINGTON — Single-family homes in 71 U.S. cities were extremely overvalued in the first quarter of 2006 and at risk of price correction, with the costliest properties clustered in California and Florida, economists said Monday.

National City Corp. and consulting firm Global Insight in a joint study said even though the rate of home price appreciation nationally has slowed in recent months, the number of extremely overvalued markets rose 11% from 64 cities at the end of 2005.


As recently as 2004, only three markets, representing 1% of home value, were considered grossly overpriced.

The secret's out ... the party's over ... send in the clowns! :D

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  • 301 Brexit, House prices and Summer 2020

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