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Americas most overvalued – and undervalued – cities

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Can a housing market simultaneously be the most undervalued in the nation and one of the worst housing buys? Nationally, the great majority of housing markets are now fairly valued, according to Local Market Monitor. Eight markets are overpriced, and 15 are underpriced. That contrasts with the boom years: In mid-2006, 37 of the biggest markets were overpriced, six under and 57 fairly valued.