Eastern Economic Journal

FIGURE 1

FROM:

Historic Turning Points in Real Estate

Robert J Shiller

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Figure 1.

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Prices in stock market and housing market, with dates of major turning points indicated. Standard and Poor 500 Stock Price Index (moving average of daily closing values for the 3 months ending with the month indicated, January 1987 to March 2007) and Standard and Poor Composite Home Price Index, which is based on 10 major US cities, monthly, January 1987 to December 2006.

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