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No Housing Bubble Found in 9 of 10 Urban Markets, According to New Pomona College Study.
AScribe Business & Economics News Service, April, 2006
Byline: Pomona College
CLAREMONT, Calif., April 3 (AScribe Newswire) -- Fears of a real estate bubble are overblown, and homes remain undervalued in many markets, according to new research from a pair of Pomona College professors who developed a fresh methodology for gauging bubble trouble. By comparing the cash flow generated by owning a home to the cost of renting a comparable house, economics professors Gary Smith and Margaret H. Smith found bubble conditions in only one of the 10 metropolitan U.S. housing markets evaluated.
In a paper presented March 31 at the Brookings Institution in Washington, D.C., the husband-and-wife team concluded that buying a home generally remains an attractive long-term investment - even if buyers are conservative in...
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