June 14, 2011
It is kind of the fine folks who compile the Case Shiller index to finally “definitively” tell us that home prices have now officially double-dipped (or is that quadruple dipped when one adjusted for the pro forma impact of QE1 and 2?). Well, below is a chart that cuts right through the noise and semantics, and shows that when expressed in a currency that has not been battered and diluted endlessly, the true normalized value of housing is really down 80% not just since the housing peak but since the turn of the millennium.
Median home price priced in gold.
h/t Mike via chartoftheday.com
This article was posted: Tuesday, June 14, 2011 at 3:39 am