SD overvalued again

From an article at wsj.com: 

http://online.wsj.com/articles/how-to-play-the-real-estate-market-before-it-s-too-late-1411333001

An excerpt:

Now is also a good time to buy a home, many analysts argue. The slowing growth in prices makes homes more affordable, even as rental costs inflate for single-family homes and multifamily apartments. Meanwhile, interest rates remain slim. The average rate for conforming 30-year fixed-rate mortgages recently was 4.19%, close to the lowest levels of the year, says HSH.com, which collects mortgage data.  Keith Gumbinger, vice president of HSH.com, says, “Price gains have cooled in many areas, and mortgage rates are lower than they were expected to be this year. The combination is a favorable one, and if it holds, it should provide a solid foundation for home sales this fall.”

Ivy Zelman, founder of Zelman Associates, says the current gloom is overstated and housing prices will continue to slowly appreciate. “People still believe in the American dream,” says Ms. Zelman, who was early in predicting the housing downturn and anticipated the rebound. “The housing market is lukewarm and will get warmer.”

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