Federal Reserve Bank of San Francisco Economic Education Group

Date last updated: May 24, 2012

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1990 1994 1998 2002 2006 2010

House Prices and Disposable Income Year-over-Year Percent Change, through 2011:Q4

http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group

S&P Case-Schiller National Home Price Index

Disposable Personal Income

Sources: S&P, Fiserv, MacroMarkets LLC, & Bureau of Economic Analysis

http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group

-20

-15

-10

-5

0

5

10

15

20

1990 1994 1998 2002 2006 2010

S&P Case-Schiller National Home Price Index

Disposable Personal Income

= 100 x (2011:Q4-2010:Q4) 2010:Q4

A quarterly data series that tracks single-family residential

home values across the U.S.

2006:Q2 House Prices = 7.46%

Disposable Income = 7.28%

Income across U.S. households, less taxes paid

2009:Q1 -18.59 %

Sources: S&P, Fiserv, MacroMarkets LLC, & Bureau of Economic Analysis

Annotated Chart Notes House Prices and Disposable Income

Year-over-Year Percent Change, through 2011:Q4

What Do You Think?

1. What happened to the growth rates of disposable income and house prices from 1994:Q2 to 1995:Q1?

2. Between 1990 and 1997, which grew faster: disposable income or house prices?

3. Between 1998 and 2007, which grew faster: disposable income or house prices?

4. What was the percentage point difference in house price growth between the peak in 2005 and the bottom in 2009?

5. How would you describe the trends in house prices and disposable income since the Great Recession ended?

http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group

Learn more about house prices during the Great Recession at FRBSF.org