Relevant:
2008-05-18 — nakedcapitalism.com
Mark Thoma has posted a nice little piece by his colleague Tim Duy on what a housing bubble looks like (as in charts, not in those "what were they thinking" pictures of overpriced shoeboxes now going begging).
It illustrates very nicely the most basic symptom of pricing gone awry: how housing prices hit unprecedented highs in relationship to local incomes.
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