This article was eviscerated last week on numerous blogs linked to on Piggington.

Suffice it to say, Plummer’s a tool, and he completely ignores items that agree with the massive overall price drop, and disagree with his thesis, like the Case-Shiller national housing index (which has been around a LOT longer than the 7 years the Composite-20 index has been). Way too many flaws to bother regurgitating here, I suggest you look through the blog links for relevent links that took him apart.