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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (16028)1/15/2004 1:39:21 PM
From: bozwoodRead Replies (1) of 306849
 
"Overvalued and overpriced are poorly understood words"

Only in times of overvaluation

To value something on the basis of other similar assets is not the best way. Tulip bulbs were fairly valued on the basis of the tulip appraisor's estimate which was based on other tulip bulb sales. We all know how that turned out (and before you respond as such, I am well aware that houses are not tulip bulbs).

It is better to set the asset's value in relation to something else. For instance, median home prices are now 3.2x median income. This is the highest ratio in history, I believe, and the highest since 1970, I am sure. Or for another example, median incomes have increased about 6% since the end of 2000 and home prices have increased 23%.

This all is probably futile trying to point out to you, though, Tradelite as I don't believe you will even respond to the points I raise.
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