Just read up on an article from Forbes stating that New York's housing market is undervalued by 10.4%, which is second on the list of the most undervalued housing markets of 2017. Fitch Ratings, a credit rating agency, used five economic metrics (nominal income growth, population growth, unemployment, change in rental prices, and change in home prices) to determine the values.
1) Detriot - Undervalued by 11.7%
2) New York - Undervalued by 10.4%
3) Philadelphia - Undervalued by 4.4%
4) Chicago - Undervalued by 4.1%
5) Cincinnati - Undervalued by 3.6%
Thoughts on this?