Local Market Monitor, a real-estate market research provider, estimates that the San Francisco/Oakland real estate market is overvalued by 53%.

“The level of over-valuation matters in three ways, according to Ingo Wenzer, president of Local Market Monitor. The higher it is, the greater the risk of it correcting; the greater the correction can be; and the longer it will take to return to present-day prices after they fall.”

Nine of the “Top 10” overvalued cities were in California, while Texas had four cities that were actually considered to be undervalued. Hope they’re prepared for a flood of speculators…
Home prices get even more overvalued [CNN/Money]

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