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Kettle1 Research

OFHEO NJ HPI (All Transactions), Dec 2010


600

OFHEO NJ HPI would have to drop about 50% -


60% from current levels to come in line with the
500 3% trend as calculted fromt he start of the index
(1975) and about a 60% - 70% drop from peak
value to reach the 3% trend.

400

300

200

100

0
May-84

May-95

May-06
Aug-81

Apr-85

Aug-92

Apr-96

Aug-03

Apr-07
Feb-76

Nov-78

Sep-80

Jul-82

Feb-87

Nov-89

Sep-91

Jul-93

Feb-98

Nov-00

Sep-02

Jul-04

Feb-09
Dec-77

Dec-88

Dec-99
Mar-75

Jan-77

Oct-79

Jun-83

Mar-86

Jan-88

Oct-90

Jun-94

Mar-97

Jan-99

Oct-01

Jun-05

Mar-08

Jan-10
OFHEO NJ HPI 3% Trend

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