The line might look like this, give or take:[img_assist|nid=4776|title=Graph|desc=|link=node|align=left|width=466|height=378]
The trough at the Great Depression was a result of job loss for the most part, right?
So was the insane high to the far right a result of job growth? Right…
We’re used to graphs like this but most people aren’t. This is crazy. And of course this is national, and local is different, but as a national comparison the argument for why this is not logical is valid: incomes cannot support these price levels.
Home prices track with incomes at this level, and incomes according to an MSN article have barely kept up with inflation. Assuming they mean core inflation, which excludes food and energy, then really wages are down, and home prices will follow.