Thursday, July 24, 2008

Is housing near a bottom? Here is your answer.

It's the question that everyone keeps asking. Are we near the bottom in the housing market? Well, the red line in the graph shows a century of constant-quality, inflation-adjusted U.S. housing prices. Notice the housing bubble that started around the year 2000.

So, are we near the bottom? Not a chance in hell. We're still much closer to the top.

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