Rollercoaster of housing prices


Home prices since 1890 (via Tim Schilling MV=PQ via Carpe Diem via Mises)

Now Spencer and CR would also love this:

The same chart presented dynamically as a roller coaster video.

Update: Some readers wanted the last two years included. Okay…here it is. But now you have to provide the roller coaster ride video for the last two years. 🙂

Schiller updated here

Daily chart
House prices
Through the floor
May 29th 2008

America’s house prices are falling even faster than during the Great Depression

AS HOUSE prices in America continue their rapid descent, market-watchers are having to cast back ever further for gloomy comparisons. The latest S&P/Case-Shiller national house-price index, published this week, showed a slump of 14.1% in the year to the first quarter, the worst since the index began 20 years ago. Now Robert Shiller, an economist at Yale University and co-inventor of the index, has compiled a version that stretches back over a century. This shows that the latest fall in nominal prices is already much bigger than the 10.5% drop in 1932, the worst point of the Depression. And things are even worse than they look. In the deflationary 1930s house prices declined less in real terms. Today inflation is running at a brisk pace, so property prices have fallen by a staggering 18% in real terms over the past year.

(bolding mine)