Dr B
Again you are stretching a RE agents role beyond what they are charged to do.
Additionally houses dont always have easy to identify well-understood values in relation to things like incomes and prevailing rents. For example, prices in SF and NYC have never in recent history been anywhere close to being in line with either. Here’s another more local example. In 2001, the house next door sold for $550K and it was way out of whack with rents and incomes in the area. Obviously that house was worth considerably more a couple years ago but it has never been worth less and is still worth about $250K more than that. By any long term quantitative measure one could have looked at back in 2001 it was not a good deal. History of course tells a very different story and it will never approach that $550K price again.
PS you didnt hear any of us on this board saying it was a great time to buy in 2008 or 2009.
