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Chart Of The Day

Shiller: “We can’t trust momentum in the housing market”

Robert told CNBC this morning that the 12% year over year rate of change in house prices can’t be trusted.  No kidding.  To put this in perspective I charted out the current trajectory relative to the average historical trajectory.  Anyone who thinks housing in the USA is on a sustainable price appreciation path is not working with a full deck….

housing_lol

(Chart via Orcam Financial Group)

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