Thursday, August 30, 2007

Overvalued real estate #40 - Des Moines

I thought we should go into the mid-west to seek out our next bubbletown. Real estate prices in Des Moines are currently 23 percent above their long run trend. Prices have been drifting off course since 1997. However, Des Moines has a long way to go before it is in the "A" league of bubbletowns. Let's hope it stays that way.

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