Originally Posted by jayeff

In Long-Term Perspectives on the Current Boom in Home Prices Robert Shiller of Yale University points out that US house prices - in real terms - were almost unchanged between 1900 and 2000. From that perspective it is almost impossible to see the astonishing leap in prices since 2000 (which seems to have blinded people to that longer term reality), as anything other than a bubble waiting to burst in a very big way.