Globetrotting for Overvalued and Undervalued Housing

FRIDAY FACTS

January 3, 2014

 

OVERVALUED HOUSING

A recent article in Realtor Magazine noted that houses in Canada are overvalued by 60% according to a report from Deutsche Bank.  Home prices in Canada when compared to rent are 88% overvalued and 32% overvalued when compared to income levels.  Average prices rose 4% in 2013 and are projected to rise 3% in 2014.

The study showed the following overvaluation:  Belgium, 56%, New Zealand, 51%, Norway 49%, Australia 40%, France 33%, U.K. 31%, Sweden 24%, Finland 22% and Spain 16%.

UNDERVALUED HOUSING

Japanese housing is undervalued by 39% and U.S. housing is undervalued by 6%.

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