1) House prices are still only halfway back down to fair value.
2) Prices don't usually stop at fair value.
3) Obama's plan won't turn house prices around.
Commenter Jay Points Out: The chart doesn't quite tell the whole story... demand for housing should drive the chart to well below the 100 level.
1. Baby boomers retiring don't require large houses.
2. Loans (money) to sub prime borrowers will probably decrease.
3. Jobs are becoming more scarce.
4. Real estate taxes wil probably stay the same or increase making real estate a non-investment. etc....
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