• Americans have a faith that housing prices always rise– enough to help fund retirements. The reality is that “home prices have actually been pretty steady over time. In fact, if you look at a fifty-year period after World War II, home prices were absolutely steady. In 1947 the Case-Shiller index stood at 110, and in 1997, adjusted for inflation, it stood at 110 again. So here’s the question: why do people think that home price appreciation is a law of nature, when it so clearly isn’t?”
[To the tune of Sarah Shannon, “Along The Way,” from the album City Morning Song (a 1-star song, imo).]