[Mr. Jeeves]

Housing isn't overvalued - the dollar is just becoming ever more worthless because Greenspan is printing so many of them. The real trick has been the government's skill in keeping all the commodities with prices that are going up from being counted in the official inflation rate.

A box of Quaker 100% Natural Granola is almost $7 now...it was $4 five years ago. I think we still grow plenty of oats. ;)

[hubbubhubbub]

That's easy. Core CPI doesn't include food, energy or home ownership. The skill is getting so many Americans to believe these lies. They rely successfully on widespread economics illiteracy among the U.S. population.