[img_assist|nid=1180|title=Irrational Exuburence|desc=|link=node|align=left|width=400|height=359]
You can find similar historical price/income graphs out there. I got the above chart from the Wikipedia entry on the housing bubble. The article shows a good comparison of the recent US run-up in prices with the 1990 peak in Japanese RE, and their 16 year decline.