![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXeHFCjpRAh-pRXh9zqKURXUCRXJHUezyFE0_YuXCebIBKp-gCFpepSqMggyu1PEM2Ptdo2ycL1aXOkVkxPwFxtU8ZfI9Q2oLzPfxce6huhJSaSCeAKr8wi5piThWAjeafQMoh7_QuOko/s400/Housing+bubble%28s%29.png)
Rather than depicting house prices per se, this graph shows the "price-to-rent ratio" - house prices divided by the "rental equivalent" cost of home ownership (zeroed to 1997 at the midpoint of the x-axis) - for five countries (Ireland, Spain, U.K., U.S., and Germany). Further explanation at the link.
Via The Daily Dish.
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