OT THE ECONOMY GIVETH AND THE ECONOMY TAKETH AWAY

Housing Overvaluations Increase During Third Quarter

38% of Housing Stock 'Extremely Overvalued' in Global Insight/National
City Housing Valuation Analysis of Top 299 Metro Areas

WALTHAM, Ma. and CLEVELAND, Dec 09, 2005 /PRNewswire-FirstCall via
COMTEX/ -- The third- quarter update of the Global Insight/National
City Housing Valuation Analysis released today shows 38% of the top 299
metro housing markets are extremely overvalued and at risk for a price
correction. The number of extremely overvalued markets actually
declined to 65 from 67 in the second quarter, showing the incidence of
overvalued markets is becoming more concentrated.

"While the incidence of overvaluation clearly increased, we are
beginning to see more diversity among metro areas. Not all are moving
toward loftier valuations, as was the case during the 2003-2004
period," said Richard DeKaser, chief economist at National City
Corporation (NCC). "Whether the most extremely overvalued markets will
have an orderly price correction to more normal, historic levels
remains to be seen."
[...]

<http://custom.marketwatch.com/custom/usaa-com/html-story.asp?guid={E8BE1DC8-073E-4947-A8B6-6ABE457A5E69}&category=&keyword=&symb=&Idnum=06290243828835179814&L2=XN&Quotes=Y&UKorBelgium=false&LastPage=ImRealTimeQuotes&StrKey=>

Learning Richard, 12/9/2005, 9:32:35 AM,
<1134138755.924740.233270@g44g2000cwa.googlegroups.com> wrote:
[color=blue]
> Housing Overvaluations Increase During Third Quarter
>
> 38% of Housing Stock 'Extremely Overvalued' in Global Insight/National
> City Housing Valuation Analysis of Top 299 Metro Areas[/color]

I don't disagree with this statement, but try and get the tax
assesments lowered when there is a correction made in real estate
sometime down the road. Once the politicians have their hooks into
your wallet it's nearly impossible to dislodge them. It takes someone
like George W. Bush with the vision and courage to stand up for the
people and make the government give back some of the hard-earned money.

--
"Truth does not change according to our ability to stomach it."
~ Flannery O'Connor

How can anything be overvalued as long as their are willing buyers? LOL

mike hunt


"Learning Richard" <learningrichard@gmail.com> wrote in message
news:1134138755.924740.233270@g44g2000cwa.googlegroups.com...[color=blue]
> Housing Overvaluations Increase During Third Quarter
>
> 38% of Housing Stock 'Extremely Overvalued' in Global Insight/National
> City Housing Valuation Analysis of Top 299 Metro Areas
>
> WALTHAM, Ma. and CLEVELAND, Dec 09, 2005 /PRNewswire-FirstCall via
> COMTEX/ -- The third- quarter update of the Global Insight/National
> City Housing Valuation Analysis released today shows 38% of the top 299
> metro housing markets are extremely overvalued and at risk for a price
> correction. The number of extremely overvalued markets actually
> declined to 65 from 67 in the second quarter, showing the incidence of
> overvalued markets is becoming more concentrated.
>
> "While the incidence of overvaluation clearly increased, we are
> beginning to see more diversity among metro areas. Not all are moving
> toward loftier valuations, as was the case during the 2003-2004
> period," said Richard DeKaser, chief economist at National City
> Corporation (NCC). "Whether the most extremely overvalued markets will
> have an orderly price correction to more normal, historic levels
> remains to be seen."
> [...]
>
> <http://custom.marketwatch.com/custom/usaa-com/html-story.asp?guid={E8BE1DC8-073E-4947-A8B6-6ABE457A5E69}&category=&keyword=&symb=&Idnum=06290243828835179814&L2=XN&Quotes=Y&UKorBelgium=false&LastPage=ImRealTimeQuotes&StrKey=>
>[/color]