31% of Real Estate extremely overvalued says study

31 Percent of the Housing Market 'Extremely Overvalued' According to New Economic Analysis :

CLEVELAND, Aug. 17 /PRNewswire-FirstCall/ -- A study of the top 299 U.S.real estate markets released today by the economics department of NationalCity Corporation (NYSE: NCC) concludes that 53 metro areas representing 31 percent of the total U.S. housing market are "extremely overvalued" and confront a high risk of future price correction.

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