Since about 40% of the CPI is housing, and that component is calculated in a way that reduces the volatility of CPI, and essentially ignored the entire housing

Since about 40% of the CPI is housing, and that component is calculated in a way that reduces the volatility of CPI, and essentially ignored the entire housing bubble, then any alternative to government statistics is welcome. It is as if the Fed was driving a car using the oil pressure gauge as a speedometer. There was a time when the cost of collecting economic statistics was prohibitive for all but a monopoly provider. Now that we are all beginning to walk around with smartphones in our pocket, we can look forward to using them as live economic indicators.