misleading housing statistics

National Housing Statistics and Laurel & Hardy’s “Average” Weight

“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 —...
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