clipped from: blogs.wsj.com   

Home Prices Return to Affordability in Much of U.S.


The quarterly report – by economists at IHS Global Insight, a research firm, and PNC Financial Services Group Inc., a banking concern based in Pittsburgh – looks at price trends in 330 metropolitan areas across the country. Home prices are “extremely overvalued” in only one of those areas, Atlantic City, N.J. In 2005, 52 metro areas were in that category. (See full report.)