UNCG Economist Asks, “Is the Housing Bubble Over?”

UNCG economist Dennis Leyden makes an interesting observation on the current housing situation in the U.S.:

The current economic depression has a long way to go until we get back to something approaching normalcy.  My best guess is we won’t pick up much speed until the massive housing debt is cleared up.  While it appears there is still a lot of debt (and hence still a lot of foreclosures), a recent look at theCase-Shiller Home Price Index (after adjusting for inflation) reveals that we are approaching the “normal” post-WWII price levels…