Are House Prices Headed Lower?

An interesting perspective that thinks house prices will revert to the long-term mean.  If that happens, houses have more room to fall.  I don’t believe this will happen in all areas but it will be interesting to see how it plays out in the areas that have had amazing appreciation over the past few years.

http://pragcap.com/is-housing-due-to-revert-to-the-mean-price