houston: Big Oil and Real Estate - 12/19/07 12:59 PM
An economic indicator that I consider occasionally is one from the Global Insight quarterly study on housing prices in America. Here’s an interesting tidbit from the most recent report: of the 330 markets surveyed, Houston is the most undervalued.
The study uses many factors in determining the theoretical price equilibrium level for each regional market, including taxes, income, population density, and a somewhat ambiguous “desirability factor”. So, as with most all economic studies there is an element of art mixed in with the science.  Nonetheless I think this study is an insightful data point when thinking about the relative valuation of varioius markets.
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Christopher Smith

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