Jonathan Lanser of The Orange County Register wrote an article today titled O. C. (Orange County) Home prices seen as 6.9 percent too low. According to Lanser economists at IHS Global and PNC Financial say in a new report that Orange County home prices in the third quarter were 6.9 percent too low.
The undervaluation is the smallest undervaluation since 2008. We are just too low in price here in Orange County.
Orange County housing has been in an undervaluation state for 6 consecutive quarters.
In the last downturn, Orange County housing was undervalued, according to IHS/PNC's calucations , for 39 quarters ending 2002.
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