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This looks suspicious. There is not a single mention of square footage in the rents document. So let's say everyone moves to a smaller house because housing co
by YPCrumble 9y ago
This looks suspicious. There is not a single mention of square footage in the rents document.
So let's say everyone moves to a smaller house because housing costs are so high, that's not a sign of inflation?!
- nradov 9y agoThe BLS corrects for those factors using hedonic adjustments.
- YPCrumble 9y ago"Hedonic adjustments" sounds like a term for "the number is whatever we want it to be but we want it to sound official so people don't question it." If you mix "hedonic adjustments" into every number then there is zero value in the numbers. There is no meaningful way to quantify a "hedonic adjustment". Is a smartphone a positive or negative "hedonic adjustment" relative to a landline? Lots of people would say it's positive. Lots would say it's negative. Nobody knows the actual answer because smartphones have only existed for a few years.