The New York Times
(Editor’s note: Opinion pieces are posted for discussion purposes only.)
In the housing bubble, prices rose beyond all reason. In the bust, they fell even more than they had risen. For a long time since then, they recovered in fits and starts.
Recently, however — as is fitting in a saner real estate market — house prices have been rising in line with personal income and other economic fundamentals in local areas. But a return to a more stable growth pattern does not mean that housing will once again become the economic engine it was in the decades before the bubble.
