New York Times: Median Home Price Graphic
As one of the New York Times “Most E-Mailed Articles”, chances are you’ve already read David Leonhardt’s Don’t Fear the Bubble That Bursts. But if not…

…instead of panicking, most homeowners should be taking a deep breath. The real estate slump of 2006 offers a fresh chance to puncture the No. 1 myth about the nation’s No. 1 topic of conversation: the idea that we should all be rooting for high house prices. The myth is good for real estate agents, but it creates needless anxiety for everyone else. It’s time that most of us learned to stop worrying and love the bursting bubble.
“Even in the most vulnerable markets, most people just have to look through it and ignore it,” said Mark Zandi, the chief economist of Moody’s Economy.com, “because it’s of very little relevance to them.”

Amen. Now read the rest of the article (especially if you plan to comment).
Don’t Fear the Bubble That Bursts [NYT]

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