Most Overvalued Markets According to Fitch Ratings

[Heather H.]

Hi All,

I just came across this list of the five most over-valued housing markets in the US according to Fitch Ratings, which are Las Vegas, San Antonio, Austin, Portland OR, and Dallas. If you live or invest in these cities, what do you think?

List of top 5: https://www.forbes.com/sites/samanthasharf/2018/05...

Nationwide heat map of under/overvalued cities - click into the state to see individual cities: https://www.fitchratings.com/site/structuredfinanc...

I'm surprised by San Antonio because I thought their growth was more in line with population expansion - I thought it was a good place for appreciation on buy & hold, but now I'm wondering if that's true.

[Bill B.]

Any over valued housing article that doesn’t even talk about San Francisco, is obviously a joke. 

Housing 15% below where it was 10 years ago is top 5 most over valued in the US? Probably 1 out of 5 markets in the country that are below 2008 pricing?

Well, it took about 3 seconds to google Las Vegas unemployment rate. 5.4% in January 2018. 4.4% in May of 2018 when the article was written. So, since it starts with “rising unemployment” I assume the author doesn’t own a computer or can’t afford internet access. I’m not going to assume they are just outright lying to get people to read their article. Maybe they got sick of waiting for the next crash and thought they’d tried to create one?

Ps. Today's LVRJ has an article about invitation homes ones one of the largest SFR homes landlords. They sold 1100 homes in the last 12 months. 7 were in Las Vegas. They say they are just culling their inventory and letting the good markets run.

Maybe the author doesn’t have a phone either and they couldn’t call any Very large landlords here to get their opinion and instead faxed a request for an opinion from someone that owns no homes in Vegas but once visited a strip club here?