Ken Johnson on renting in a hot housing market

When do prices in a market rise so fast that they become detached from a home’s “true” value? That’s something Ken Johnson, a long-time real estate professor at Florida Atlantic University, has been studying of late. Johnson compiles a monthly list of markets that he views as overvalued with places like Boise, Idaho, and Ogden, Utah ranking high on the list. Johnson argues that in some of the most overvalued markets, people are better off renting

Johnson joined the Houses in Motion podcast on HousingWire Daily to discuss how an overvalued market is determined and when might be a good time for homebuyers to rent, and real estate agents to cool their heels. He argues that in some of the most overvalued markets, people are better off renting. Johnson also spoke with HousingWire reporter Matthew Blake about his time as an agent in the pre-Internet era, and changes in sales commissions over the years.