The latest S&P / Case-Shiller numbers, reported last week, show that prices in 20 major markets declined 3.5% over the year through February. They're now back to 2002 levels. If we subtract for inflation, they're back to 1998 levels.
But consider: After subtracting for inflation, prices are also back to 1986 levels. And 1955 levels. And 1895 levels (see chart).
Source: The Wall St Journal
Wednesday, May 2, 2012
US Inflation Adjusted Home Prices At 1895 Levels
Posted By Milton Recht
From The Wall Street Journal, SmartMoney, "Why U.S. House Prices Won't Recover: Taking inflation into account, U.S. home prices are down to 1895 levels." by Jack Hough:
Posted 5/02/2012 03:20:00 PM