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Top money manager/analyst: We are still no way near a bottom in housing...
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Friday, April 24, 2009
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By Barry Ritholtz in The Big Picture:

Over the past few years, I have frequently referred to US housing as over priced and over valued by traditional metrics. These include:

  • Median Income vs Median Home Price (mentioned yesterday)

  • Ownership Costs vs Renting Costs

  • Market Value of Housing as a percentage of GDP

  • Housing Inventory Supply vs Sales Rates


During the Housing boom and credit bubble, prices moved several standard deviations away from the norm to extremely over bought, over valued levels. As prices have come down, these metrics are getting closer to typical levels. They remain elevated.

Read full article...

More posts on housing:

Housing prices may never recover

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Topics: Housing | Recession | Real Estate
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