Do Obama's Advisors Really Not Know About the Housing Bubble?

This is the point that the Post should have been highlighting in an article about President Obama's comments on the housing market in his twitter townhall yesterday. Nationwide house prices had just tracked the overall rate of inflation from 1896 to 1996. In the decade from 1996 to 2006 house prices outpaced the overall rate of inflation by more than 70 percent.

At the point where President Obama took office, house prices had fallen by about 20 percent from their bubble peaks. Since there is ...