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Reply to "Wall Street thinks US homes are overvalued by as much as 30+%"
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[quote=Anonymous][quote=Anonymous]It is true that homes are grossly overvalued in much of the US and Canada. Income doesn't support these prices, particularly with higher interest rates. Average income and average home prices are completely out of whack by historical standards. But how it unravels is anyone's guess. Home prices continued to go ever up in 2007, and then collapsed in 2008. The difference this time is that the banks are in good shape. So I'm not sure how we get to a more balanced real estate market this time. But invariably, home prices and income will revert to an equilibrium. But how and when is unclear. [/quote] Agree with all of this. I currently see no economic forces in play that will bring prices down - but never say never![/quote]
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