jaybee

1 Comment

    • ON: Sat Jan 5th 13:25 PM
      Commented on:
      Concerning the Case Shiller Housing Index
      While Schillers Index may have some flaws in it, as amply indicated in other blog comments, it's pretty useful for overall trends. However, as most real estate is fairly localized, it doesn't really reflect actual market conditions. For example, having recently returned from Florida, specifically Miami where the condo market is in a free fall and will probably get worse as the huge oversupply of condos come on stream. One recently completed building I visited had over 20% of the units either in foreclosure who heading that way. How are those kind of statistics included in the Shiller Index?

      My own experience is nothing beats "kicking the tires" or counting the lights at night in a recently completed condo project.
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