Consumer Reports magazine, May 2005, page 14 has published a study done by “The Local Market Monitor” listing what they say are the Top 20 Overpriced Housing Markets in the US.The study compared average listing price for each market with the affordable price based on average local income.Not surprisingly 14 areas in California led the list with Fort Lauderdale & Miami, Florida with 2, 1 in Providence-Fall River, Rhode Island, Nassau-Suffolk Counties, New York, and 2 locations in New Jersey also listed.Orange County California was tops on the list at 59% over the average affordable price for the area.
Written by Maureen Francis
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