“By Moody’s reckoning, Boise’s homes are 73% overvalued, making it the most overpriced city in the nation.”
The worst bubbles are not in San Francisco or New York. They are in Boise, Sherman-Denison and Muskegon, where remote workers bid against locals on local wages. Moody’s predicts a 10 percent drop in the hottest markets. That barely dents a 73 percent overvaluation, while rents in the 50 biggest cities jumped 14 percent in a year.