If you think living in L.A. is overpriced, well, that's probably because it is. We
hate to be the bearer of bad news, but a new Trulia study confirms our
suspicions that the city's housing market is pulling a fast one on us.
The real estate site compared home prices from the fourth quarter of 2014 to historical figures to come up with its findings. Turns out, Los Angeles nabbed the number-three spot on the list of the most overvalued home prices in the country. Our SoCal neighbor, Orange County, came in at number two (Austin, Texas, was numero uno). This would be great news if you were looking to sell your home and move to, say, Cleveland, Ohio — the most undervalued city in America, according to the same report.
But, for those of us who wouldn't trade our zip code for anything, it's definitely kind of a bummer that we're paying more to live here than we should be. At least you can take solace in one thing: You're certainly getting your money's worth in terms of great weather. Oh, and it's nice to know the stats have your back the next time you find yourself complaining about rent. (Trulia)