Using the Case-Shiller index of prices, the market looks undervalued by almost 8%.

用Case - Shiller价格指数来分析，房地产市场看上去低估了将近了8%。

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The Standard and Poor's Case Shiller index increased 5.5% in November from the year before.

11月标准普尔凯斯·席勒房价指数较上一年同期上涨了5.5%。

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House values in most cities fell in the year to January, according to the S&P/Case-Shiller index of prices.

根据标准普尔/凯斯-席勒住房价格指数，自去年至今年一月，大部分城市的房价都呈下跌态势。

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The Standard and Poor's/Case-Shiller Index measures home prices in twenty large American cities.

VOA: special.2011.01.24

Home prices are falling at the highest rate we've ever seen. I have my own index s Case-Shiller indexes the Standard & Poor's Case-Shiller indexes and we announced our indexes yesterday.

房价正在以我们从未见过的速度下跌,我有自己的一个指数,名字叫The，Standard&Poor’,而且昨天我们公布了我们的指数。

耶鲁公开课 - 金融市场课程节选

Here, the blue line is the Case-Shiller Home Price Index for greater Boston.

蓝色线代表,"科斯-席勒"波士顿住宅价格指数

耶鲁公开课 - 金融市场课程节选

The Case-Shiller index can sometimes overstate the magnitude of price increases because it includes foreclosures.

WSJ: Home Prices Jump 10.9%, Largest Annual Gain in 7 Years

So my guess is that Ben Bernanke is terrorized by the Case-Shiller Index.

FORBES: Ben Bernanke's Terrorist

To see why, take a look at the Case-Shiller Index for 20 United States metropolitan areas from 2000 until now.

FORBES: There Is No National Housing Market