Bad Paper

The International Monetary Fund warned in a report this week that the U.S. isn’t the only developed country with significantly overvalued home prices. According to the report there are several nations where real estate values are more overpriced than in America. The report concluded that homes were overpriced by a mere 11 percent in the U.S., but more than 32 percent in Ireland. In addition, home prices in Britain, Australia, France, Norway, and the Netherlands were overvalued more than 20 percent.