Florida real estate crash means Tampa Bay homes are too cheap, report says - St. Petersburg Times
June 11, 2009, Writen by: Chris Anderson, Ph.D
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A new article lines up with what we are seeing on the ground in Tampa with probably some over correction in prices. According to the article:
Tampa Bay area homes are too cheap. You read that right. According to IHS Global Insight, a economic forecasting company based in Lexington, Mass., our real estate is undervalued.
IHS took a measure of our depreciated home prices, population density, household income and historical attractiveness and insists our median home price of about $131,000 is 16.9 percent too low. Three years ago, when a typical home sold for $186,400, IHS deemed us 30 percent overvalued.
You can get the entire article below:
via Florida real estate crash means Tampa Bay homes are too cheap, report says - St. Petersburg Times.
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