Comparing the Case-Shiller housing index with the unemployment rate for past real estate bubbles shows housing prices declined for a few years after the unemployment rate peaked. This suggests that housing prices will not bottom (in real terms) until well after the unemployment rate peaks

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Housing Prices and the Unemployment Rate

By Niall Ferguson On Wednesday last week, yields on 10-year US Treasuries — generally seen as the benchmark for long-term interest rates — rose above 3.73%. Once upon a time that would have been considered rather low

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History lesson for economists in thrall to Keynes