I wonder about the integrity of the data used in this research. You have the phenomena of a very divided country now with high unemployment in some areas and low in other areas. Those areas with low unemployment are very effected by government spending (D.C. Area) and high government wages. Here housing sales are beginning to move again. High unemployment areas they are not which says zero input from those areas and all the sales happening in the first areas. So of course housing sale prices, coming from "rich" areas will be higher. Until we break through the 14+% unemployment and get American working again, you are going to have very biased numbers.