[quote=AN]
First, what you’re saying is, data is wrong and your memory is better?
Secondly, that chart you’re showing from Robert Schiller is inflation adjusted. That’s a HUGE difference. I was talking about nominal prices. I could have sworn we were talking about price dropping when rate rises. Which mean nominal price dropping. Not price rising slower than CPI.[/quote]
At least the first link you provided also was inflation adjusted (2000 constant dollars).
Here’s what I know. I built 75 virtually identical units in 1980-1981. The early units sold pretty quickly at $71-$72K. By the end of 1981, I barely had nibbles. It took me until the end of 1983 to sell the last units for $66K.
The same houses were selling for less, in 1984 than they did in 1980.
Here’s a chart from this blog showing median prices essentially flat during that period.
