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There is no national housing market

Posted on 18 March 2013

I am asked from time to time to contribute to a group of people who forecast national house prices. A lot of me would like to help (after all, who doesn’t like being asked for his opinion), but I am never sure how to answer, because to me, there is no “national” house price.
To see why, take a look at the Case-Shiller Index for 20 United States metropolitan areas from 2000 until now. Take percentage changes in the index, and then find the correlations across metropolitan areas. If metropolitan areas moved in lock-step with each other, they would have correlations of one. If they have nothing do to with each other, they will have correlations of zero………………………………………..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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