Absolutely fantastic graphical animation of U.S. real estate price changes from 1975 through September 2007. The 1999-2003 transition from relative real estate normalcy to red-drenched nuttiness is riveting and alone worth the price of admission alone (were there one).
The source for this figure is Stephen Heise, and so all credit and applause should go to him.
If I could figure out to embed it properly here — the usual .FLV methods aren’t working — I would do so and offload his server for what will almost certainly be a wildly popular animation. Anyway, Stephen has a good description of how he pulled this together based on regressing deviations from regional historical growth rates.
Great work, Stephen. And thanks Dan for the heads-up.