{"id":3561,"date":"2008-12-04T10:36:27","date_gmt":"2008-12-04T18:36:27","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=3561"},"modified":"2008-12-04T12:13:49","modified_gmt":"2008-12-04T20:13:49","slug":"the-housing-market-is-slightly-undervalued-except-in-seattle","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/12\/04\/the-housing-market-is-slightly-undervalued-except-in-seattle\/","title":{"rendered":"“The housing market is slightly undervalued” (except in Seattle)"},"content":{"rendered":"

A recent report on the housing market across the country<\/a> from Global Insight and National City contains some interesting bits that are worth noting:<\/p>\n

Extreme overvaluation is now essentially nonexistent. … For the country as a whole, the housing market is slightly undervalued.
\n…
\nOnly the Pacific Northwest remains overvalued across a wide region.<\/p><\/blockquote>\n

\"Housing<\/a><\/p>\n

Their analysis is based on population density, mortgage rates, incomes, and a “constant” for each city, that is roughly equivalent to the concept of desirability that we have discussed on these pages<\/a> numerous times in the past.<\/p>\n

Since they are claiming that most of California is already “fairly valued,” I think their analysis tends to lean somewhat in favor of more expensive housing. So while I can’t say I agree with their analysis 100%, I do find it interesting \/ amusing that the Pacific Northwest now sticks out like a sore thumb in their nationwide analysis.<\/p>\n

You can play around with their nifty interactive map<\/a>, read the full report<\/a>, or check out the methodology pdf<\/a>.<\/p>\n

Update:<\/b> Changed the map image above to the one directly from the pdf report<\/a>, since the National City website is serving up different versions of the interactive map in a seemingly random fashion.<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent report on the housing market across the country from Global Insight and National City contains some interesting bits that are worth noting: Extreme overvaluation is now essentially nonexistent. … For the country as a whole, the housing market is slightly undervalued. … Only the Pacific Northwest remains overvalued across a wide region. Their…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[198],"tags":[90,341,453,342,454],"coauthors":[],"class_list":["post-3561","post","type-post","status-publish","format-standard","hentry","category-news","tag-seattle_is_special","tag-global-insight","tag-national-city","tag-overvalued","tag-undervalued"],"yoast_head":"\n"The housing market is slightly undervalued" (except in Seattle) \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2008\/12\/04\/the-housing-market-is-slightly-undervalued-except-in-seattle\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\""The housing market is slightly undervalued" (except in Seattle) \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"A recent report on the housing market across the country from Global Insight and National City contains some interesting bits that are worth noting: Extreme overvaluation is now essentially nonexistent. … For the country as a whole, the housing market is slightly undervalued. … Only the Pacific Northwest remains overvalued across a wide region. 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