Totally, absolutely amazing chart published by NY Times last week:

116 years of housing market

As you can see the housing prices appreciated by 10% in 105 years, or  0.1% per year (which makes it, by the way, a bad investment comparing even to savings accounts).

But in the recent 9 years we’ve got this amazing 90% run, which is approximately 10%  y/y appreciation. Well, the party is over, what is in front of us – a greatest roller-coaster of the century. This post is your “fasten your seat-belts” sign 🙂