More good economic news for Palm Beach County

Kim Miller in the Post blog Real Time has this news from Bubble Watch about our friends to the south, Miami. Will the Miamians be looking for spots north (with higher ground)? From the article:

The housing research firm Trulia released its latest Bubble Watch report this week showing where homes are overvalued compared to historic norms, and one included a key Sunshine State city.

Miami home prices were 10 percent overvalued during the last quarter of 2014, ranking it in 10th place on the list of metro areas with the most overvalued homes. Austin ranked first with home values 16 percent higher than fundamentals.

Palm Beach County prices were 1 percent undervalued at the end of 2014. The report notes that at the height of the market in 2006, Palm Beach County was 72 percent overvalued.

Still, we do hear the talk of a longer-range bubble which lurks on the horizon. We will continue to monitor reports like these.