Saturday, May 30, 2009

What does the market think your house is worth?

As off-the-wall as I think Glenn Beck is most of the time, it'd be a lot easier to not like him if he didn't make so damn much sense.

In this video from February he explains (with the help of a gigantic graph!) the historical price of houses in the U.S., adjusted for inflation, of course, and finds that they tend to stick around $100K. You can ignore the parts with Obama, if you'd like; they really don't affect the analysis.

Now, I haven't independently confirmed his figures, but they do seem reasonable, and if the trend line he draws actually continues like that, we're totally boned. I don't personally think that prices will continue to plunge like they have been, but we were long overdue for a major correction in housing prices.


Jessi said...

I was rather surprised that this was actually presented factually and maturely, honestly. I was expecting an Obama grill-session. You know, I'm much more open to listening and giving actual consideration to arguments against Prez O's agenda when they are done matter-of-factly and without snide, sarcastic, whiney remarks about Obama & Co. I'm willing to bet that many other Obama supporters feel the same way. Whining and bitching doesn't make us "others" want to lend an ear. Just some food for thought.

mnthomp said...

Beck did do a good job of presenting those figures, no matter how you feel about the current administration.

But it never ceases to amaze me how quickly liberals forget the hack job that they did on the Bush administration for eight years - complete with name calling, personal attacks, and sometimes complete fabrications - and just assume that everyone should and will be all warm and fuzzy with the new administration, despite real idealogical and material disagreements with their positions. Whining and bitching was the name of the game for an awfully long time in the liberal press, but now that the tables have turned... well, you know.