{"id":6161,"date":"2014-03-14T13:32:45","date_gmt":"2014-03-14T13:32:45","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6161"},"modified":"2014-03-14T13:32:45","modified_gmt":"2014-03-14T13:32:45","slug":"despite-price-gains-homes-still-undervalued","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/despite-price-gains-homes-still-undervalued\/","title":{"rendered":"Despite Price Gains, Homes Still Undervalued"},"content":{"rendered":"

Despite Price Gains, Homes Still Undervalued<\/h2>\n
\"Despite<\/a>

Despite Price Gains, Homes Still Undervalued. Image courtesy of Danilo Rizzuti \/ FreeDigitalPhotos.net<\/p><\/div>\n

Despite double-digit percentage increases in home prices, homes are still undervalued relative to incomes, according to CoreLogic.<\/p>\n

\u201cMuch of the recent house-price appreciation is a result of market correction for the significant undervaluation caused by the price declines in the late aughts,\u201d CoreLogic chief economist Mark Fleming writes in a blog post<\/a>. He adds that \u201cthere is no need to fear a bubble for at least a few years to come, if at all.\u201d<\/p>\n

Fleming says that home prices did get way ahead of income levels in the early 2000s, but a significant over-correction has taken place. He argues that incomes are key to forecasting home prices, saying that home-price growth cannot be sustained at higher levels than income growth because housing would become unaffordable and demand would decline.<\/p>\n

\u201cRising interest rates and the \u2018unlocking\u2019 of pent-up supply as home prices continue to increase are expected to slow the pace of home price appreciation,\u201d Fleming notes. \u201cAt the same time, continued improvement in the economy will modestly increase income growth. The net effect is that home prices are expected to remain slightly undervalued relative to income levels through the end of 2015.\u201d<\/p>\n

Source: \u201cHome Prices Actually Undervalued Based on Incomes: CoreLogic<\/a>,\u201d Mortgage News Daily (March 12, 2014)<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Price Gains, Homes Still Undervalued Despite double-digit percentage increases in home prices, homes are still undervalued relative to incomes, according to CoreLogic. \u201cMuch of the recent house-price appreciation is a result of market correction for the significant undervaluation caused by the price declines in the late aughts,\u201d CoreLogic chief economist Mark Fleming writes in … <\/p>\n

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