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Housing BOOM!

I came across this graph from the NY Times. An economist has adjusted the prices of homes back from 1890 to 2006 factoring out inflation. It’s amazing the growth in the housing market over the last few years. It is going to be a big problem when the market crashes. People probably won’t be able to pay off there mortgages when they sell there houses. Anyway, pictures speak louder than words. So here’s the graph.

Graph

Link to the article:
http://www.nytimes.com/2006/08/27/weekinreview/27leonhardt.html


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