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Housing Has Never Been This Undervalued according to DSNews.com
Research Firm Says U.S. Housing Has Never Been This Undervalued 3/8/11
We just read this in DSNews.com and we wanted to share it with you. (well we didn't want to share, but thought we should keep you informed)
The continuing depreciation of residential property values at the end of last year has made housing look more undervalued relative to income than ever before, according to analysts at the research firm Capital Economics.
Based on the latest Case-Shiller home price index, Capital Economics’ study shows that in the fourth quarter of 2010, housing was 21 percent undervalued when compared with disposable income per capital.
Looking at data included in the index published by the Federal Housing Finance Agency (FHFA), the firm found that housing in Q4 was 15 percent undervalued as measured against individuals’ disposable income.
Capital Economics says its results illustrate “housing is exceptionally undervalued,” and the gap is getting bigger. In its third quarter 2010 report, the research firm pegged the Case-Shiller index readings as 19 percent undervalued and the FHFA index as 14 percent below what would constitute a balanced housing value in relation to income.
The recent fall back in house prices, coupled with low rates, explains why ... more

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