11-03-2005, 03:51 PM
| | Investors overwhelmingly believe the U.S. housing market is overvalued
Investors overwhelmingly believe the U.S. housing market is overvalued, but still see real estate as a better investment than the stock market, according to a survey released this week by financial services organization TIAA CREF.
"There is a notable disconnect between the run-up in housing market values investors are seeing as homeowners, and their desire to participate in an attractive asset class like real estate over stocks and bonds," said Tom Garbutt, TIAA-CREF managing director and head of real estate.
According to the study, conducted by Roper Public Affairs and Media for TIAA-CREF, nearly three out of four investors, or 73 percent, believe housing in the U.S. is overvalued, while just one in five, or 19 percent, believe it is valued appropriately. Middle-class investors, which comprise those with household incomes from $25,000 to $74,999, are particularly likely to see U.S. housing as overvalued.
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