Originally Posted by JonLaw
So, cost *can* decline.

Well, naturally. You could have found prior evidence that housing costs can decline, too, you just wouldn't have heard that very often in 2005.

Most economists are so caught up in crunching abstruse numbers, searching for predictive power in indices, benchmarks, and test levels, that they forget that they're actually trying to predict the completely unpredictable, because at the very base of its nature the market is made up of people, and therefore has a psychology, so sometimes it just goes bleeping nuts.

Two things that people are often unprepared to shop for in a rational way are medical care and their children's futures. Not coincidentally, the prices on those two things are currently running out of control.