Some of you have likely seen this before, oft-forwarded via email as it was, but it bears another look with a fresh set of eyes.
It's a video made in early 2007 by one of those pesky interweb bloggers that plots inflation-adjusted U.S. housing prices as a roller coaster, painting a visceral picture that helps explain why prices had to come down and finally did. Remember: these are inflation-adjusted prices, which means that any home price gains that were dead-even with inflation would be flat. With that in mind, the immense upward trajectory of this thrill ride highlights just how much faster home prices grew than other consumer goods did during the last 10 years -- an unsustainable trend to say the least.
It would be fun to see this updated through today's data.
*Note: keep an eye on the lower right corner under the little YouTube icon for occasional updates on what year in history the roller coaster is at in it's journey.