A bust without a boom
Tuesday, September 25, 2007
The S&P Case-Shiller Home Price Index has been updated below to include two more months of home price data since its inaugural publication here a while back.
Poor Detroit appears to be having a bust phase without having had a real boom, though things have picked up a bit in the last month.
For those of you having trouble following the color codes, from top to bottom on the rightmost part of the chart, the list of cities is as follows:
Miami, Los Angeles, Washington D.C., San Diego, Las Vegas, Tampa, Phoenix, San Franciso, New York, Seattle, Portland, Boston, Chicago, Minneapolis, Denver Atlanta, Charlotte, Dallas, Cleveland, Detroit
See MacroMarkets for the source data - very interesting.
2 comments:
Hi Tim,
does this index adjust for inflation? I'm guessing not. It might be interesting to add a CPI line to it to show how the starting "100" has increased due to inflation - it might give an indication of what all those lines might converge to.
Just a thought.
Barnabus
No, inflation is not included. I'll see what I can do to get CPI and/or owner's equivalent rent on this chart - maybe next time.
Here's a chart from last month with OER vs. the Case-Shiller index using year-over-year changes:
How owners' equivalent rent duped the Fed.
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