The Most Overvalued Housing Markets In America Are In Texas
In a city with rising incomes and declining unemployment, it stands to reason that home prices would go up as well.
Such is the case in San Antonio. Incomes in the Texas city grew 4.5% between the first quarters of 2016 and 2017, nearly a percentage point more than the national average.
The problem is home prices were even hotter.
The CoreLogic Case-Shiller Home Price Index for San Antonio gained 7.8% year-over-year, compared to a 3.7% gain nationally. As a result, San Antonio homes are overvalued by 18.6%, the most of any market in America, according to Fitch Ratings… Read more from Forbes.com