As a reference for long-term house price index trends, below is a chart, updated with the most current data (through December) from the CalculatedRisk blog post of February 28, 2017 titled “Real Prices and Price-to-Rent Ratio in November”:
(click on chart to enlarge image)
_____
The Special Note summarizes my overall thoughts about our economic situation
SPX at 2363.64 as this post is written