Price Per Square Foot Graph of US Housing Market

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-------- Original Message --------

Subject:	Two Pictures of the State of Housing In the US
Date:	Wed, 2 Mar 2011 11:10:52 -0800
From:	Jas Jain

Two Pictures of the State of Housing In the US

 

Please see the attached graph. There is some cyclicality in the prices, but even adjusted for that the prices are at 7.5-Year low. In inflation adjusted dollars, the prices are at a 10-Year low. This should be confirmed by the Case-Schiller data in 2-3 months.

 

The second graph (Mortgage Purchase Index from Calculated Risk blog) is at:

http://cr4re.com/charts/charts.html?Existing-Home#category=Existing-Home&chart=MBAMar2.jpg

 

It is at the same level as first attained in 1993! Talk about a large drag on the US profligacy!! (The US policymakers do not promote economy; they promote profligacy and most Americans oblige. Corporations and the rest of the world is more than happy to accommodate and get greater and greater share of Americans' income over time).

Jas

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