A Return to Normal in Housing Markets?

Today’s Wall Street Journal Front Page shows a chart by Bob Shiller which illustrates, as Mr. Miller has already opined, that we’re finally seeing a statistical return to “normalcy” in the housing markets. This means, per Shiller, that housing values will grow “at the same pace with the inflation rate” (or course barring extraneous market influences like a big spike in rates, changes in the mortgage interest deduction, etc.)

More here.

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