Real Prices and Price-to-Rent Ratio in March

[Hersh M.]

What do you guys think about this article? Interesting points made wrt inflation too. 

http://www.calculatedriskblog.com/2016/05/real-pri...

"In real terms, the National index is back to February 2004 levels"

"On a price-to-rent basis, the Case-Shiller National index is back to August 2003 levels"

In general, I have been thinking the current prices are very close to previous peak but this is a different way of looking at things. 

Welcome your wisdom and comments.