Many of you will know the initials PMI, even more so if you’ve had to take PMI on a mortgage. PMI Group Inc. is a one of the largest mortgage insurance companies around.
The Fall 2005 PMI Economic and Real Estate Trends Report is out, and boy is it a doozy!
I’m amazed at how quickly sentiment is changing. This report doesn’t hold back any punches, it paints a bleak picture for the real estate market.
Here is some data that is sure to have you clicking..
NJ is in the Top 11 riskiest markets.
Edison, NJ – Overvalued 27.4 %
Newark/Union, NJ – Overvalued 25.6%
NY/White Plains/Wayne, NJ-NY – Overvalued 16.3%