[quote=sdcellar][quote=AN]Is it really that complex? Total housing stock went up by a lot, yet resale went down by a good 35% compare to 1999. How do you explain that? BTW, new construction didn’t “add” to the complexity. That complexity has always been there. There were construction back then too, so that variable didn’t change.[/quote]Within a single post you say new housing stock “went up by a lot,” so need to factor that in. Then you say that it’s always been there (“that variable didn’t change”), suggesting we can safely ignore the effect on new home construction.
So, I’m confused. Which is it?[/quote]
uh, houses built in 1999 were new in 1999 but not new in 2009. Each new house build add to total inventory. Due to new home construction, total housing stock in 1999 was a lot more than in 1989. So, due to new home construction, total housing stock in 2009 was a lot more than in 1999. Do you get it now?
