This point comes from Martin Barnes at Bank Credit Analyst…
The current 11% year-on-year gain in real house prices compares to a 50 year average of only 2%. The current growth is three standard deviations above its mean, and historically, this has broadly been a mean reverting series. The odds are high that the growth in real house prices will fall below zero in the next few years.
via John Mauldin’s free letter, which I devour every week.