In many areas of the country, home prices are going crazy.
Or at least that’s the narrative.
I just discovered an amazingly engrossing interactive chart by The Economist where they show home prices in various U.S. cities as a function of time and other metrics. The picture it paints with home prices is one that matches people’s feeling: prices are going up and up.
From 2010 to 2016, median home prices in Portland rose by over 20%.
I’m not here to dispute those numbers. What I’m here to dispute is how short people’s memories are.