Houses overvalued by 25%: A rejoinder

February 2012

It appears estate agents and house investors and other stakeholders in the housing market have experienced serious anguish and denial following the launch of Rode's Report (quarter 4 of 2011) on 26 January 2012. At the press conference I stated that houses were fundamentally overvalued by at least 25%; furthermore, that house prices will, as a consequence, decline in real terms over many years (unless one assumes a quick collapse like in the USA).

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