Enjoy your new home. I’m enjoying my long term home and will continue to do so
for the fun of it I googled most overpriced cities in America. Guess which state has 3 out of 10 of the most overpriced real estate markets?
Interesting article, sdr, and thank you for sharing it. But what is it really revealing? It lists the most “overpriced” and “underpriced” cities. Top of the list of “overpriced” is Boise, Idaho, followed by Austin, Ogden, and Provo. But these are the very cities people are fleeing TO, thus boosting their prices of late.
The article then defines as “underpriced” Honolulu, Virginia Beach VA, Baltimore, and New York–the cities people are moving FROM of late, thus lowering their RE prices.
My whole thesis is to invest long term in where people are moving TO, not FROM. With the runup in prices in Boise, its prices are probably still lower than, say, Honolulu. As an aside, Boise has had the highest rent increase among cities according to one source. I would guess that its prices and rents are still lower than Honolulu or NYC.
FWIW, I’ve bought 3 condos since moving to St. George, all with prices and rents about half to one-third comparable properties in San Diego. The price per SF has risen 28% in St. George in the past one year.
I believe in looking at long term demographic trends. The factors that made SD a great place to invest are slowly being offset by the negatives.
I agree with most everyone here, to each his own, and I wish the best to all, whatever their choice.
