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Why Housing Prices Are So Expensive (EP.313)

Animal Spirits Podcast

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The Average Annual Returns for the S&P 500

If unemployment is falling, you're probably coming out of a recession. Do you know the annual returns for the S&P are from 1948 to 19, 22? So you're taking away World War II, Great Depression, really... Total returns are closer to like 12%. It's like 11.5% per year. Pretty amazing. The first time they looked at those returns in 1970s... What was it from 1926 to 1949? Zero? I don't know.

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