Monday, March 02, 2009

Don't Believe Me?

How about Robert Shiller. This chart clearly shows that home prices need to get back to a curve which parallels personal income growth.And then there is this chart from the US Census, which indicates just how far from the the pre-boom levels we are. A return to pre-boom, adjusted for inflation, levels would put us back on or near a point on the line which parallels personal income.

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