A new study on real estate price was conducted by MIT and CBRE Econometric Advisors. It addresses the question whether or not the current market is actually a “buy” market. A big “booooo” because Boston is missing from the detailed data! In any event, the answer is basically if you take the post 2002 bubble years out of the equation, much of the housing market is still overpriced. If you factor those years in … it’s not so bad. The report is short, if you want to look yourself, here it is.