Accepting our recent challenge to “show us a legitimate graph of home values for San Francisco, or the Bay Area, or California, or the Nation, hell you might as well make it the world for that matter, that looks like [the declining chart on this post]”, Paul G steps up to the plate with this chart and explanation below:
You did open the chart challenge up to the world so I thought I’d submit this one. I can’t upload images to your web-site so I’m emailing it to you. Feel free to post, if you want.
The green line represents the cost of residential land in six major urban centers in Japan since 1955. The blue line represents San Francisco prices using the Case-Shiller index, but, in order to make the peaks coincide, I’ve moved all SF values back 15 years.
No, I don’t think San Francisco prices are going to follow the same trajectory down for many reasons (inflation, the 30-year run-up in Tokyo compared with the 10-year run-up here) but it’s still an interesting graph.
Thanks for the graph! Very interesting to say the least.
–Chart Fun: Declining Real Estate Values [theFrontSteps]
–San Francisco or New York City, if you had to choose [theFrontSteps, Battle Royale]