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That's very much like the information I was referring to where comparing European national figures to US national figures is highly misleading ... US real estate being overvalued by 12% seems extremely low in the face of the current foreclosure crisis, but if half of that comes from 10% of the market, its 60% over-valued in the worst affected markets.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Tue Sep 29th, 2009 at 05:11:37 PM EST
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