Historically, how closely correlated are U.S. real estate price performance and U.S. stock market price performance?
And has any historical correlation been coincidental or is there a theory of why real estate price movements and stock market price movements would be correlated? I'm referring to U.S. real estate as a whole and the U.S. stock market as a whole, not specific geographies (e.g., Los Angeles) or companies (e.g., Netflix) or industries (e.g., tech).