Affordable

To give you a better idea of what "affordable" used to mean:

A house used to cost 2 times the average annual salary in 1943. Today, it's 9 times. The average from 1914 to 1968 is 3.

The entire Dow could be purchased for 5% of the average annual salary in 1932. Today, it's 38%. The average from 1930 to 1995 is 12%.

100 barrels of oil could be purchased for 7% of the average annual salary in 1998. Today, it's 39%. The average from 1914 to 2004 is 15%. Not even in 1980, at the peak of the oil shocks, was the cost of oil (relative to average salary) so great.

So there you have it folks. The only conclusion is that these three assets MUST "deflate" (fall in price) over the next few years by as much as 60%!