HousingWire reports David Blitzer, chairman of Standard & Poor’s Index Committee, says when current home prices are adjusted for inflation, they are back to 2001 levels. This suggests the rapid rise and decline of home prices did little more than create havoc for the economy. “Allowing for a dip in home prices in the 1990s when inflation rose faster than houses, we’re almost back to 1989,” he says. As to whether buying a home is even a good investment, his response is that it depends on the economy, the real estate market, and the needs and finances of the buyer.
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