Just found a site that seems quite interesting, re USA historical prices. It can be found at - the 'rollercoaster' ride IMO is fairly amusing. This can be found by googling real estate roller coaster, and clicking on the link with the cartoon picture of the rollercoaster ride. The guy doing the lectures on housing bubbles 9 Christopher Thornberg) makes interesting viewing IMO, as do some of the other links.
Reinforces my view that I woudn't invest in the states for at least another year ! ( seems to be unchartered territory aswell from a viewpont that US prices haven't been in such a bubble-state before).