The M Report – Samantha Guzman
Houston has the most overvalued housing market in the U.S., according to a report by Bank of America Merrill Lynch. The bank found that the U.S. housing on average is 13 percent overvalued compared with personal income growth, a fundamental driver of property values, and that Houston properties are 77 percent overvalued.
“We find that national home prices are marginally overvalued,” Michelle Meyer, an economist at Bank of America, said in the report. “National home prices have increased 24 percent since the trough and the most recent data for December suggest 2014 ended with prices up 4.6 percent.”
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