Local Home Prices Go Back to the Future With the caveat that a city-wide price index blends neighborhood valleys and peaks into averages, what does the Case-Shiller index say about Minneapolis home prices since 2000? Home prices as of Summer, 2014 are about where they were in 2008. And 2003. Huh?!? Price Roller Coaster The...Read More
“Averaging” Dissimilar Things = Meaningless What is the average weight of Laurel and Hardy? Answer: if you “average” a 150 pound man and an 350 pound man, you get 250 pounds — and a totally meaningless statistic. So, too, housing statistics that blend dissimilar markets — or even different neighborhoods within the same market —...Read More
