The good news: The housing markets in some cities are now distinctly undervalued. Others, unfortunately, are still overvalued (listen up, New York).
Price-to-rent is not the only measure of housing value, and markets tend to overshoot on both sides. But Dan’s analysis provides a reasonable sense of which housing markets are nearing the bottom and which are set up for further declines.
Here’s the quick snapshot of Dan’s conclusions:
Likely Fair Value Or Overshot
Las Vegas, NV
San Francisco, CA
Los Angeles, CA
New York, NY
San Diego, CA
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