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Return to 2003, Again, or Possibly 2002


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As promised, here is a followup chart to Friday's article on how long it's been since home prices were at current levels.

This chart once again uses the Case-Shiller index to track San Diego home prices but adjusts those prices for the effects of inflation as measured by the Consumer Price Index. By taking account of inflation, we can observe how expensive housing is (and was) not just in dollar terms, but compared to everything else.

The high end fared best once again, of course. Adjusted for inflation, the high tier of the March Case-Shiller index was back to levels last seen in August 2003. The middle and low tiers, in contrast, had fallen all the way back to valuations last seen in October and September of 2002, respectively.

As of March, the aggregate index of all single-family resale home prices was at an inflation-adjusted level last seen over five years ago in April 2003.

-- RICH TOSCANO

A Nerd's Eye View

Rich Toscano is a financial advisor with Pacific Capital Associates*;
he also writes about San Diego real estate at Piggington's Econo-Almanac.
Contact him at rtoscano@pcasd.com.

SEDC Responds to Mayor's Inquiry:

 

Memo details bonuses and additional compensation of all employees.

Friday, July 18 -- 6:37 pm

Board Member Blasts Smith:

 

'The culture of SEDC over the years has been to manipulate, cajole, ignore and intimidate the board into utter and complete silence.'

Friday, July 18 -- 5:32 pm

Smith Not Resigning:

 

SEDC president resists the call for her to step down.

Friday, July 18 -- 5:08 pm


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MOST POPULAR STORIES:

SURVIVAL IN SAN DIEGO

Another Jump for Unemployment Rate :

 

County jobless rate nears 6 percent.

Friday, July 18 -- 12:29 pm

LETTERS TO THE EDITOR

Penchant for Secrecy:

 

San Diego Unified School District legal counsel Jose Gonzales must have been in a hurry to start his vacation.

Friday, July 18 -- 3:27 pm

CAFÉ SAN DIEGO

No Problem with Defined Benefit:

 

The risks inherent and unavoidable with these plans are manageable.

Friday, July 18 -- 12:46 pm

COMMENTARY: SLOP

Resign? Yeah, Right :

 

Why resign when you can get paid $200,000-$300,000 for being fired?

Friday, July 18 -- 11:20 pm

COMMENTARY: RICH TOSCANO

Employment Goes More Negative :

 

Housing weakness spilled over into the rest of the economy in June.

Friday, July 18 -- 4:31 pm
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This Just In

SEDC Responds to Mayor's Inquiry:

 Memo details bonuses and additional compensation of all employees. » Jul. 18 -- 6:37 pm



Board Member Blasts Smith:

 'The culture of SEDC over the years has been to manipulate, cajole, ignore and intimidate the board into utter and complete silence.'

Jul. 18 -- 5:32 pm


Smith Not Resigning:

 SEDC president resists the call for her to step down.

Jul. 18 -- 5:08 pm


MOST POPULAR STORIES:

SURVIVAL IN SAN DIEGO

Another Jump for Unemployment Rate :

  County jobless rate nears 6 percent.

Jul. 18 -- 12:29 pm



LETTERS TO THE EDITOR

Penchant for Secrecy:

  San Diego Unified School District legal counsel Jose Gonzales must have been in a hurry to start his vacation.

Jul. 18 -- 3:27 pm



CAFÉ SAN DIEGO

No Problem with Defined Benefit:

  The risks inherent and unavoidable with these plans are manageable.

Jul. 18 -- 12:46 pm



COMMENTARY: SLOP

Resign? Yeah, Right :

  Why resign when you can get paid $200,000-$300,000 for being fired?

Jul. 18 -- 11:20 pm



COMMENTARY: RICH TOSCANO

Employment Goes More Negative :

  Housing weakness spilled over into the rest of the economy in June.

Jul. 18 -- 4:31 pm

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