WILL: Because friends like you are misinforming the country by saying that they have not seen benefits. Even housing, Bob, housing today after the big decline, the average American house is worth a third more than it was in 2000.
I haven't been keeping track so I don't know for sure that Will is wrong but it is worth checking because he's been wrong so many times. I decided to use the Case-Shiller Housing Price index:
The S&P/Case-Shiller Home Price Indices measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States. These indices use the repeat sales pricing technique to measure housing markets. First developed by Karl Case and Robert Shiller, this methodology collects data on single-family home re-sales, capturing re-sold sale prices to form sale pairs. This index family consists of 20 regional indices and two composite indices as aggregates of the regions.
The historical indices are here and each release incorporates all the previous releases. The index starts January 2000 and currently ends in March 2008. Here's the graph of the values for the 20-region composite index:
Will underestimated the increase! Of course, that's only a small part of the story and it's typical of conservatives to latch onto a positive tidbit and ignore everything else.
Posts
No comments:
Post a Comment