Why There’s No Home-Price Bubble

Source: The Wall Street Journal

Home prices in many parts of the country are rising today at the same rate that they did during the bubble years of 2003, 2004, and 2005. But an analysis by real estate website Trulia found that, when compared with traditional price drivers such as rents and incomes, home prices are undervalued on a national basis by around 7 percent, compared with being 39 percent overvalued in early 2006.

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