Almost half of top US housing markets are 'overvalued' -Corelogic

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According to Corelogic , almost half of top US housing markets are 'overvalued"

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At the end of July, of the top 50 markets, based on housing stock, 46 percent were overvalued, according to CoreLogic.

A market is considered overvalued when home prices are at least 10 percent higher than the long-term, sustainable level. On the flip side, 16 percent of markets in the report were listed as undervalued and 38 percent came in fairly valued.

https://www.cnbc.com/2017/09/05/almost-half-of-top...

Exactly! People still buy them and live in them for years. Some people actually fix them up. Some even build from the ground up. My neighborhood(Clinton Hill) is hot right now. 

@Joseph M. I am surprised by the CoreLogic study from 2017. "A market is considered overvalued when home prices are at least 10 percent higher than the long-term, sustainable level." The article does not specify the latter.

As of Q1 2020 based on historical price income-ratios, I see only 11 out of 50 largest cities (by population, not inventory) overvalued > 10%. The rest under- or fairly valued.

This is a study I did myself. Can write to me for any data, further info.