Why did it take you so long to realize this? Americans made homeownership the social safety net in lieu of having a broader social safety net. Acceleration of home appreciation in the 80s coincides with the fraying of other parts of the social safety net.https://twitter.com/noahpinion/status/937747372284682240 …
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Replying to @kimmaicutler
Except overall U.S. residential prices in real terms were no higher in ’97 than ’79. Appreciation came after.https://alfred.stlouisfed.org/series?seid=QUSR628BIS&utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=alfred …
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Replying to @kimmaicutler
Not really. Prices bumped up sharply in late 80s but fell back in 90s California slump. Bought house in ’85, sold it with no real appreciation in ’95. https://fred.stlouisfed.org/series/CASTHPI
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Replying to @mugwump2
your vertical axis is concealing the movement in that index. Looks like it's around 200 in 1995 and closer to 120 in 1985.
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Replying to @kimmaicutler
Here are real house prices in the 3 big Calif coastal markets compared to US. From 80-96, up and down. From 97-2016, big divergence from nation.pic.twitter.com/C6pQY4A6AD
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Price income ratios back to 1970s in the Bay Areapic.twitter.com/XSSjPYVisY
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