[Mpls] Mpls overvalued; but not too bad.

[Allen]

Good Morning,

Thank you for sharing this information.  I tried to see what more detail was
given about this survey.  From what little I could find,  
http://www.nationalcity.com/content/corporate/EconomicInsight/documents/fmo0
205.pdf , they appear to be taking a stab at figuring out future housing
valuations.  I'd be curious to know how accepted their approach is in
academic circles.  After all, there were plenty of folks back during the
stock bubble arguing that future projected earnings justified the stock
prices of the time.  Afterall, those folks did find sane-looking numbers to
justify their arguments.  Furthermore, housing is a different beast than
stocks.  We have yet to find a sure fire way of determining future
valuations for company shares, I'm reluctant to place too much value on
something claiming the same for housing.  


Allen Graetz
Lowry Hill


-----Original Message-----
From: mpls-bounces at mnforum.org [mailto:mpls-bounces at mnforum.org] On Behalf
Of Bill Cullen
Sent: Friday, February 11, 2005 9:45 AM
To: mpls at mnforum.org
Subject: [Mpls] Mpls overvalued; but not too bad.

A Study by National City Corp found "housing "bubblettes" in one-fifth of
the U.S. housing stock, labeled as areas with home premiums in excess of 20
percent, a metric that may indicate future price corrections."

Mpls was found to be 10% overvalued -- not meeting the standard set by
National City Corp as a bubble.  Details here:

http://phx.corporate-ir.net/phoenix.zhtml?c=64242&p=irol-newsArticle&ID=6727
70&highlight=

Regards, Bill.
Whittier Landlord

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