Tuesday, March 31, 2009

Case-Shiller disagree with OFHEO

Earlier this month, the OFHEO calculated that housing prices rose significantly from December 2008 to January 2009.

Today, S&P reports that its Case-Shiller housing price index fell significantly (close to three percent) over that same time frame!

To further the Employment for Economists Act, a Commission of economists should be created to study why the two indices give different results. (The OFHEO has already explained how some of its ingredients are different, but that has yet to translate their exposition of recipes into an explanation of why Case Shiller has fallen so much more.)

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