Credibly promising to be irresponsible...since 2004!
Maybe I"m misreading this, but if this is adjusted for inflation then a house has the same value today as it did in 1987-ish. So it makes me think this is a horrible investment, and without a bubble in the future you might as well literally sleep in a pile of $. Of course you need to live somewhere, and that will cost you (unless you live with the parental units, but that may cost you in non-monetary ways). But this chart makes it look like a bad investment, and that's not even taking into account the transaction and capital costs of owning.
No, you are reading the chart 100% correctly.
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