The Big Picture: Riskiest Housing Markets? (PMI Market Risk Index)

The Big Picture: Riskiest Housing Markets? (PMI Market Risk Index): "Interesting (if understated) article in WSJ yesterday about the PMI U.S. Market Risk Index report; The PMI Index suggested that about 'half of the 50 markets are overvalued by 10% or more, the report said. Only 11 markets are undervalued.'
Recall that I have been saying that Housing is an extended asset class, and not a bubble. That makes overvalued regions vulnerable to a pullback, as opposed to a full blown crash.
Here's the Ubiq-cerpt:�
Home prices in some of the nation's largest markets are poised for a fall, according to a study that says homes are overvalued in many cities.
The PMI U.S. Market Risk Index report, released yesterday, named Boston, San Diego, Long Island, N.Y., Santa Ana, Calif., and Oakland, Calif., as the markets facing the biggest risk of a price correction. The index showed these markets have a more than 50% chance of experiencing price declines during the next two years. New York City ranked 14th, with a 33% chance . . .
The markets facing the biggest potential correction are Los Angeles, Sacramento and Riverside, Calif., where prices are estimated to be overvalued by 33.7%, 31.3% and 30.7% respectively, the report said. New York City's prices are 16.3% overvalued, according to PMI."
In San Diego the best real estate
sites are:San Diego mls
San Diego for sale by owner


San Diego coastal homes
San Diego downtown
condos