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2017-01-23

In nominal terms, the Dow is up 70% from its peak in January 2000.


The Dow is up only 19% in real (inflation-adjusted) terms since 2000. 

A 19% increase in 17 years is underwhelming.


The national home price index that Case and I created is still 16% below its 2006 peak in real terms. 


But hardly anyone focuses on these inflation-corrected numbers.


Robert J. Shiller, Project Syndicate 18 Jnuary 2017

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