[quote=AN][quote=sdcellar]2003 would be seven years, last I checked, so I happily ignored it (and I was being generous at 8, you know I’m a 2001 guy). And, yes, sdr’s deal is even better (and I actually trust that he’s correct).
Three was an exaggeration, of course, because I have no idea what the number is. I just don’t think it’s that high. At least not in the areas I know anything about.[/quote]
OK, so you’re a 2001 guy. Do you believe we had no inflation over the last 9 years? Do you believe income hasn’t gone up over the last 9 years. BTW, you happily ignore 2003, but then you happily ignore 2002 too. Last I checked, 2010 – 8 = 2002.[/quote]
For many people, their incomes have NOT gone up at all. Many have seen wage declines over this period. Also, the price of food, utilities, energy, medical care, education, etc. has also gone up, leaving less money to devote to housing costs. If the pie of expenses has grown larger and faster than income, then it would make sense that housing prices should be lower, not higher.
There are other possible factors, of course, but one cannot automatically assume that housing prices always go up, even if “official” inflation (which I don’t trust at all, one way or the other) is going up.
