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NY Case Schiller home price index is flat to slightly down over that period, actually. This is for the NYC metro area. I could be convinced that rent has double
by sdhgaiojfsa 8y ago
NY Case Schiller home price index is flat to slightly down over that period, actually. This is for the NYC metro area. I could be convinced that rent has doubled with housing price flat, but I'm guessing not?
https://us.spindices.com/indices/real-estate/sp-corelogic-case-shiller-new-york-home-price-nsa-index https://us.spindices.com/indices/real-estate/sp-corelogic-ca...
- bobthepanda 8y agoMetro area is a much larger sample size though; for certain rapidly gentrifying areas, like Long Island City, I could see there being a large increase which gets drowned out in metro-wide statistics.
- AnimalMuppet 8y agoOK, but you can't tell much about national inflation (even inflation in housing costs) from smaller-than-metro-area statistics.
- adventured 8y agoNationally there are some strong indications of housing inflation occuring. The median new US home price is up about 40% over the peak of the 2005-2006 real estate bubble, and it's up roughly 100% since 2000-2001: https://i.imgur.com/sec7wZz.png https://i.imgur.com/sec7wZz.png
- sdhgaiojfsa 8y agoSure. I was only responding to the New York part.
- astura 8y agoRaw numbers are meaningless outside of context. The Case-Schiller index the GP was referencing takes CPI inflation into account.