I posted this over on Blue Oregon as part of a thread going on over there on home prices in Portland.
Last week on CNNMoney.com:
Harvard study says there may be bumps along the way, but that the long-term health of the housing market is intact.
By Les Christie, CNNMoney.com staff writer
June 13, 2006: 3:18 PM EDT
NEW YORK (CNNMoney.com) – The housing market is entering a down cycle, according to a report from Harvard’s Joint Center for Housing Studies, but is unlikely to undergo a severe reversal.
The market may face risks as interest rates rise, decreasing affordability and expanding inventories, according to the study, but the market will suffer only a modest downturn unless the broader economy collapses and jobs dry up.
The story continues at the link above.
Scroll down to the bottom and there is a link to overpriced areas. Bend, Oregon gets the number five spot. The best value? Five different areas in Texas!