The charted rise of household mortgage debt on the web site (from May issue)tends to suggest to me that a real estate bubble has been forming. Living in the Pacific Northwest where the economy has turned down faster than the rest of the U.S., it seems to me there are definitely thin places in the skin of that bubble.
Where can I go to find some good measure of house prices versus GDP? Do list members tend to agree with a real estate bubble scenario? How realistically are real estate prices reflected in inflation numbers?
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