Forbes Ranks San Diego As Most Overpriced Real Estate Market

Woo hoo! We're #1! We're #1! Oh wait, maybe in this case being number 1 isn't a good thing. Not that it's any surprise to us who live in San Diego - we are overly familiar with the ridiculously high housing market and the cost of living here. But now, Forbes.com lays it all out, and indeed, San Diego gets the top spot as the nation's most overpriced real estate market. We top Miami (#2), and the other usual suspects: San Francisco, New York City, San Jose. According to Forbes, "A slumping housing market, where only 5% of residents can afford the median home, and a high price-to-earnings ratio made the oceanfront city our most overpriced real estate market." Forbes does admit it didn't factor in the sunshine we get...if it had, it says we might have fell out of the top 10. Oh, what consolation. To see the full rankings, as well as the top 10 least overpriced markets, go to Forbes.com here.