Fall PMI Economic & Real Estate Trends Report
Many of you will know the initials PMI, even more so if you've had to take PMI on a mortgage. PMI Group Inc. is a one of the largest mortgage insurance companies around.
The Fall 2005 PMI Economic and Real Estate Trends Report is out, and boy is it a doozy!
PMI Economic and Real Estate Trends Fall 2005
I'm amazed at how quickly sentiment is changing. This report doesn't hold back any punches, it paints a bleak picture for the real estate market.
Here is some data that is sure to have you clicking..
NJ is in the Top 11 riskiest markets.
Edison, NJ - Overvalued 27.4 %
Newark/Union, NJ - Overvalued 25.6%
NY/White Plains/Wayne, NJ-NY - Overvalued 16.3%
Caveat Emptor,
Grim
The Fall 2005 PMI Economic and Real Estate Trends Report is out, and boy is it a doozy!
PMI Economic and Real Estate Trends Fall 2005
I'm amazed at how quickly sentiment is changing. This report doesn't hold back any punches, it paints a bleak picture for the real estate market.
Here is some data that is sure to have you clicking..
NJ is in the Top 11 riskiest markets.
Edison, NJ - Overvalued 27.4 %
Newark/Union, NJ - Overvalued 25.6%
NY/White Plains/Wayne, NJ-NY - Overvalued 16.3%
Caveat Emptor,
Grim
4 Comments:
I've often wondered what "NY/White Plains/Wayne" consists of. Sounds like some hugely gerrymandered congressional district.
Is it those towns individually?
Is it the area formed by a triangle with these locations as its corners?
And what's so remarkable about Edison? Doesn't sound like a "real estate market" to me.
Just saying.
I've often wondered the same, I'm not sure the origin of the breakdowns myself having seen them appear in numerous places now.
I'll try to do some research on the actual breakdowns. However, I only look at those numbers and breakdowns to get a feel of the averages. If anyone thinks that Wayne specifically will fall 16% and Edison 26%, you will be largely mistaken.
The only thing you should take away from those numbers is that the North Jersey Region, as a whole, is largely overvalued..
-grim
Thanks for the breakdowns.
grim
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