Housing Prices Now Back to Bubble Peak

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


The Wall Street Journal points out today that housing prices are now as high as they were at the peak of the bubble years:

But that’s OK. It’s been over a decade now and incomes have gone up enough to compensate. We can afford housing at 2006 prices, right? Um…

Well, incomes are a little higher, but not by a lot. On the bright side, at least we have an incoming president who—

Aw crap. We’re so screwed.

UPDATE: As too many people have pointed out in comments and on Twitter, I messed this up, comparing the Case-Shiller index in nominal dollars to household income in real dollars. Sorry! It’s fixed now. In nominal terms, household incomes have gone up about 17 percent since 2006, so houses are still more affordable than they were at the top of the bubble.

But not by a whole lot—and housing prices are continuing to rise. I’d still keep a close eye on this.

Dear Reader,

This feels like the most important fundraising drive since I've been CEO of Mother Jones, with staggeringly high stakes and so much uncertainty. In "News Is Just Like Waste Management," I try to unpack the reality we all face and how we can rise to the challenge. If you're able to, this is a critical moment to support Mother Jones’ nonprofit journalism: We need to raise $400,000 to help cover the vital reporting projects we have planned, and right now is no time to pull back.

Monika Bauerlein, CEO, Mother Jones

Dear Reader,

This feels like the most important fundraising drive since I've been CEO of Mother Jones, with staggeringly high stakes and so much uncertainty. In "News Is Just Like Waste Management," I try to unpack the reality we all face and how we can rise to the challenge. If you're able to, this is a critical moment to support Mother Jones’ nonprofit journalism: We need to raise $400,000 to help cover the vital reporting projects we have planned, and right now is no time to pull back.

Monika Bauerlein, CEO, Mother Jones

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate