Capital Commerce

Another Sign Housing Is Undervalued. At Least In California

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March 2, 2009 RSS Feed Print
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Warning: Markets can overshoot on the upside and downside. Yet this chart from the California Housing Forecast blog puts home price declines in San Diego in perspective:

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The Case-Shiller numbers, tracking sales prices for similar properties, are demonstrably more accurate for the purposes of the comparison you attempt to show here. Using the shifts in the median sales price would show an overshoot even if one does not exist in fact.

A real overshoot looking like the one you illustrate here may well happen. It just hasn't happened yet.

Neville of CA 7:36PM March 02, 2009

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