Monday, March 01, 2010
A note in this item from yesterday about never again commenting on the Hummer line of SUVs now that they appear to be headed to history's scrapheap was clearly ill-advised.
In going over some old charts that integrated Case-Shiller home prices with various other data, the combination below was stumbled upon and updated for the occasion.
There is little hope that we'll ever again see U.S. gasoline prices at under $2.00 a gallon for years at a time while home prices are also rising by 10 to 15 percent each and every year, but, if we do, don't be surprised if the Hummer rises from the grave.
Yes, the historians are going to have a field day with that period - from about 2003 to 2006 when home equity crazed Americans were doing things they'd regret for the next ten years and alternative media such as blogs were there to document it all. For example, this item from early in 2006 captures the mood rather well, just before the bubble burst.