Mark Liu at Corelogic recently wrote that the following 7 markets are overheated as of this year second quarter. His definition is a market that is more that 10% higher than of the long run sustainable level based on local economic factors.
5) Washington DC
7) San Antonio
See article here:
What do you all think? Is it time to sell in these markets?
I'm trying to find the entire list of 100 metros and their rankings from overvalued and undervalued. If I find the data, I will post it here. Would be interested to see where my Minneapolis ranks.
disagree with Charleston..... and or it may be heated I can attest to that I have not built one home there in the last 24 months that did not sell at foundation stage.
this is a classic area of NO inventory and no way to sprawl.. Boeing is going nuts ( think 787 increased production in last 90 days from 2 a month to 5 and that aircraft is not going anywhere Best fuel economy and 4k ft pressurization make it a winner).. Volvo just announced a billion dollar plant and Me recedes just announced a 500 million dollar investment.. 14 new hotels under construction with the major cruise ship industry building a embarkation facility which is huge.. NO Charleston in my mind has legs...
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