update: Housing: Undervalued and Stuck There - 12/22/09 04:06 AM
Housing: Undervalued and Stuck There
December 22, 2009
Wells Fargo & Co. economists wrote in a note to clients last week, "The calculus of homebuying and finance has changed," summing up succinctly something that's troubling housing experts all over the country.
Housing researcher Global Insight recently released a study of U.S. housing prices that points to the magnitude of the collapse of values. 

Nationwide, Global found housing values were about 10% undervalued, based on a model that examines interest rates, household incomes, population, and historical price patterns.
That's a modest number compared with metro areas hardest hit by the housing … (3 comments)