home values. one thing to consider is that home prices seem to track pretty closely with demand (the percentage of people owning their own homes has tracked pretty closely to home prices - at least from 1902 to 2002). So, the trend is at least partially explained simple supply and demand economics -which would not point to a certain return to "normal" housing value. See page 122 of the 2002 us census demographic report. I'd be curious to see what the figures are for 1000 to 2006. http://www.census.gov/prod/2002pubs/censr-4.pdf
Of course there are reasons to expect home prices to continue to drop, but it's a lot more complicated than just a return to "normal". I don't think what was normal from 1950 to 1990 really applies in this VERY different global economy.
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home values. one thing to consider is that home prices seem to track pretty closely with demand (the percentage of people owning their own homes has tracked pretty closely to home prices - at least from 1902 to 2002). So, the trend is at least partially explained simple supply and demand economics -which would not point to a certain return to "normal" housing value. See page 122 of the 2002 us census demographic report. I'd be curious to see what the figures are for 1000 to 2006. http://www.census.gov/prod/2002pubs/censr-4.pdf
Of course there are reasons to expect home prices to continue to drop, but it's a lot more complicated than just a return to "normal". I don't think what was normal from 1950 to 1990 really applies in this VERY different global economy.
that should be 2000 to 2006...
Where's the posts at? Ghost town in here boy, not representing the Dash...
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