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45% to 59% Overvalue of Real Estate?

Posted by Samuel A. Kiburz on Sep 23, 2022 2:36:15 PM

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chart shows that Southwest Florida is still higher than the national average, represented by counties colored in with orange and red

Today’s chart comes from Fortune, which shows the real estate markets that are “overvalued” based on the area's local incomes and construction costs.

The article states, “If a recession hits, Moody’s Analytics expects home prices to decline between 15% to 20% in those 'significantly overvalued' housing markets.”

Florida residency offers many benefits, which could be why Southwest Florida is still higher than the national average:

  • Punta Gorda: 59%

  • Sarasota/North Port: 55%

  • Cape Coral/Fort Myers: 55%

  • Tampa/St. Petersburg: 52%

  • Sebring: 46%

  • Lakeland/Winter Haven: 45%

Topics: Chart of the Day, Managing your Wealth