The ‘boomtown’ of today: Boise is most-overvalued housing market in country, study says – By Sally Krutzig (Idaho Statesman) / Aug 31 2021
Boise took the top spot as the nation’s most-overvalued housing market in a new study.
Researchers from Florida Atlantic University and Florida International University determined this by using Zillow data going back to 1996 to project where a local housing market should be today if it hewed to its historic trend.
Boise home prices are 80.7% higher than researchers would expect them to be based on prices of the last 25 years. Most of the 100 markets studied had higher prices than the trend lines suggested, but no other city came close.
Ken H. Johnson found that number “shocking.” Austin, Texas, the second-most-overvalued market according to the study, was 50.7% over the expected value. Third was Ogden, Utah, at 49.7%.
CONTINUE > https://www.idahostatesman.com/news/local/community/boise/article253859848.html
