The website Speculative Bubble has posted a short animated film that illustrates the size of the current housing bubble. The creator of the film used Yale economist Robert Shiller's famous chart of housing prices over the last 115 years and converted it into a roller coaster ride.
It's only three or four minutes long, and the really fun part comes at the end, when you get a visceral sense of where housing prices stand. Take a look:
Ride the housing roller coaster!
Posted Apr 5th 2007 1:57PM by Michael Rainey
Filed under: Economic data
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Reader Comments (Page 1 of 1)
4-07-2007 @ 4:16PM
Mark said...
Very effective; very.
One thing missing: add year markers every five years, ten years minimum.
5-17-2007 @ 10:59AM
Steve said...
QUESTION: If I own a house valued at $350k and owe $200k, can I borrow a second mortgage of $150k to buy two SUV's, a boat, 3 plasma TV's and a European Vacation? Then, when I can't pay the new higher loan payments, blame my lender and have all of you guys bail me out, like Hillary is trying to do for my neighbor?
4-09-2007 @ 1:04AM
Bert said...
I guess this is not the best time to buy, is it?
Before buying my first home, I think I shall wait to see where this is going. I would rather pay for something on a rising roller coaster, than one that looks like it could fall off the edge of a cliff!