Housing Price Reality Check

I came across this chart at Clusterstock this morning. I’ve published it before but that was a number of months ago. It is always worth taking a look at.

The next time you hear a politician talking about the need to arrest the fall in housing prices, refer back to it. As it amply demonstrates, we have not yet reached the sort of historical correction that we should see in housing prices so all they are really saying is that they want to postpone the inevitable.

We still have quite a ways to go.

shillerhousepricechart.jpg

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