Pessimism of the Intellect, Optimism of the Will     Archive   Favorite posts   Twitter: @steve_hsu

Sunday, March 06, 2011

Almost over?

What's a factor of 2 between friends? :-) Note no long term appreciation of houses relative to CPI.




Here's Japan for comparison. Our bubble has popped much more quickly.




Yes, Virginia, we knew it was a bubble back in 2005, but no one believed us. Next time, watch the price to rent ratio:




Yes, equities beat housing over the long run, and even at the peak of the biggest housing bubble of the 20th century.

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