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Daily Real Estate News  |   February 8, 2008  |   Housing Prices Still Above Average
Yale University economist Robert J. Shiller recently calculated the long-term trend in U.S. housing prices. His conclusion: Since 1890, housing prices have risen 0.4 percent per year after inflation.

Had the calculations begun in 1960, the result would have risen to 0.8 percent per year, he says.

Ending the calculations at 2000, before the housing bubble would have reduced the estimate of growth from 1960 through 2000 to 0.2 percent.

Shiller concluded that despite the housing slump, home prices are still above their long-term trend.

Source: Business Week, Peter Coy (02/11/2008)

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