There has been much ado about the Silver Lake Reservoir over the past few years as the historic namesake of this “tragically hip” neighborhood is poised to stand as a proxy in an ongoing cultural battle between public use and the sanctity of affluent neighborhoods.
A New Life for Silver Lake Reservoir
After having been emptied, retrofitted for a year, and then refilled and replaced with non-potable water as part of a federal law that outlawed open-air drinking water reservoirs, the future of the reservoir is the focus of a potentially heated debate.
Now that the reservoir no longer holds potable drinking water, and is instead a reservoir that houses part of the city’s supply of non-potable utility water, the body of water is now available to
CoreLogic’s latest Home Price Insights report has been released for April 2018 and the biggest news is that CoreLogic reports that half of the 50 largest metro housing markets in the United States are “overvalued.” That’s a word that may have many homebuyers running for the hills shouting about bubbles and crashes but it’s far from that simple.
Click here to read the full press release from CoreLogic
So what does “overvalued” mean?
It does not mean the same thing as a bubble. Though it is obviously true that in order for a bubble to exist some commodity has to be overvalued it does not necessarily correlate that an overvalued commodity is, necessarily, a sign of a bubble.
Bubbles always occur because of some kind of rampant fraud when it