Waiting for the 36% off sale

While the latest Housing Market Analysis conducted by National City Corp says Naples, Florida is the most overvalued of all housing markets in the United States, don’t think DC is far behind.

Using thier analysis, Washington, DC-VA-MD-WV is 36.2% overvalued. That means those $300,000 condos going like hotcakes should be selling for $200K. Sound like fantasy number to you too?

2 Comments so far

  1. Tom Bridge (unregistered) on December 30th, 2005 @ 9:05 am

    That sound you hear is me lighting myself on fire.

  2. Jenn L (unregistered) on December 30th, 2005 @ 10:37 am

    That’s a really fascinating document, Wayan.

    What’s truly scary to me is how the top twenty or so (mostly in FL and CA) are all in the 50-70% overvalued. That’s an insane imbalance. 36% is definitely nerve-wracking here, but imagine it being 75%?? Yikes.

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