Sure thing! I'm a bit leery of using these numbers for specific comparisons, but I suspect the economists are at least on top of it. (At least, I've never gotten around to reading the original Case-Schiller-Weiss paper.) Still, the US "Metropolitan Statistical Area" definitions that are being applied here are huuuuuuge, and while on the one hand it does seem essential to try and capture the entire economic cross-section of the area, these are also capturing large swaths of territory that I don't think many people think of as being part of the core housing market.
There's also the question of how useful it is to look at house sale prices in a market like NYC where there's a whole lot of the population that rents (and wouldn't ever think about doing anything else) vs. places where there's a lot more of an ownership culture.
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Date: 2013-07-12 12:47 pm (UTC)There's also the question of how useful it is to look at house sale prices in a market like NYC where there's a whole lot of the population that rents (and wouldn't ever think about doing anything else) vs. places where there's a lot more of an ownership culture.