Where house prices shot up, rebound is slowest

growthBy Floyd Norris | The New York Times

When an economy is growing rapidly, and the population is increasing, house prices are likely to rise.

Conversely, areas with slow growth are not likely to see house prices increase.

That is generally what has happened in the United States since the summer of 2007, when house prices peaked, as measured by the Federal Housing Finance Agency index.

But there are exceptions. In the Pacific region, house prices soared during the boom. But they have performed relatively poorly in recent years even though the regional economy has outpaced the national one.

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