U.S. home prices hit 14-year high in October

"The S&P CoreLogic Case-Shiller index covering home prices of all nine U.S. census divisions, reported an 8.4% increase in October from a year ago. The National Index is now up 24.5% from its former high in July 2006."

Many reasons, but the one provided by the guy overseeing the index, that “it’s likely COVID-19 has pushed buyers to move from urban apartments to suburban homes” is one of the less plausible ones since the we have yet to see undisputed data supporting thesis of a secular bum rush out of the cities (ex-NYC).

“The National Index is now up 24.5% from its former high in July 2006.” — This daunting stat translates to a slightly less almighty CAGR of roughly 1.6%