Today we have created a housing price index for ourselves that covers diverse cities in Canada and the USA. We do not claim it will be completely representative, just that it will be completely honest and not subject to manipulation by government authorities or commercial interests.
In one month's time, and monthly thereafter, we will update our index and let you know if housing prices are rising or falling as we measure them. We are naming the index The Frugal Scotsman's North American Housing Price Index.
We suggest you set up some indexes of your own for the costs of things that are important to you. Don't rely on official measures of inflation or deflation to tell you where prices are going. There is too much 'riding' on official numbers to trust them.
Saturday, May 16, 2009
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3 comments:
Do you have one for Maui
Thai,
Sorry to not have gotten back to you sooner. Both myself and Mr. Smith have been having some trouble with comments.
The short answer to your question is no, but Mr. Smith will be happy to give you the info you need to start an index. I'll let him know that comments have been ironed out, and he will get back to you soon.
--TFS
Thai,
The simplest thing to do to make your own index is define what you want to measure - e.g. two bedroom condominiums - and then run a periodic MLS search. It won't be perfectly accurate because selling prices are usually below listing prices.
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