By Nicole Raney
We know how much Houstonians need to make in order to rent a nice apartment in the city, but how do we fare when it comes to buying a home? According to Forbes, the Bayou City has the second most overvalued housing market in the U.S. this year.
The five most overvalued housing markets were determined by Fitch, who weighed home price trends against economic fundamentals of each market (income growth, unemployment rates, population growth, mortgage rates, rental prices, buyer demand and inventory levels). In overvalued markets, home prices grew faster than the local economy.