Housing Prices: Are We There Yet?

Last Updated Apr 14, 2011 2:37 PM EDT

This is from Steve Barry ( via Barry Ritholtz's Big Picture):

[click on image to enlarge]

We're getting there, but if we return to historical norms -- and there's little reason to think we won't -- there's still a ways to go yet before housing values return to their long-run level.

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    Mark Thoma is a macroeconomist and time-series econometrician at the University of Oregon. His research focuses on how monetary policy affects the economy, and he has also worked on political business cycle models. Mark is currently a fellow at The Century Foundation.