Chart of the Day

Following on from Bullion Baron’s chart of house prices in gold, here’s an interesting correlation (and yes, I know correlation is not necessarily causation) to ponder.

First, the change in house prices in major US cities (from the Case Shiller price index):

Then, the gold price plotted against the Washington DC:Detroit house price ratio:

I wonder if a similar representation can be done with Caboolture and Canberra?

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  1. It is interesting that cities (Minneapolis, Portland, Seattle, Chicago ) that grew moderately compared to bubble cities (70% vs 150%) are now in freefall.