- This topic has 30 replies, 10 voices, and was last updated 16 years, 11 months ago by
latesummer2008.
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May 31, 2007 at 6:46 AM #9183May 31, 2007 at 7:10 AM #55674
Duck
ParticipantI think it’s because people bought lower priced homes than in the prior year. Just a guess.
May 31, 2007 at 7:10 AM #55693ParticipantI think it’s because people bought lower priced homes than in the prior year. Just a guess.
May 31, 2007 at 7:36 AM #55676Bugs
ParticipantI suppose it could drop that fast but I’m skeptical. It’s not consistent with the data I see at street level.
I’d want to see the methodology they used to come up with that number. I have a feeling we’re talking about some kind of averaging that makes assumptions about the datasets that may not be warranted.
May 31, 2007 at 7:36 AM #55695ParticipantI suppose it could drop that fast but I’m skeptical. It’s not consistent with the data I see at street level.
I’d want to see the methodology they used to come up with that number. I have a feeling we’re talking about some kind of averaging that makes assumptions about the datasets that may not be warranted.
May 31, 2007 at 7:40 AM #55680Anonymous
GuestHey, public school teacher, it’s ‘bellwether.’
May 31, 2007 at 7:40 AM #55699GuestHey, public school teacher, it’s ‘bellwether.’
May 31, 2007 at 8:51 AM #55700(former)FormerSanDiegan
ParticipantBugs –
The Case-Shiller index uses repeat sales to overcome some of the problems with median prices, primarily the biases due to change in mix of sales.Since any particular house is typically only sold every few years there are some sampling issues, and they make use of estimation theory.
It’s laid out in the following …
http://macromarkets.com/csi_housing/documents/tech_discussion.pdfAll those engineers out there might appreciate it, but others might want to take a class in Random Signal Theory before reading the details.
May 31, 2007 at 8:51 AM #55719ParticipantBugs –
The Case-Shiller index uses repeat sales to overcome some of the problems with median prices, primarily the biases due to change in mix of sales.Since any particular house is typically only sold every few years there are some sampling issues, and they make use of estimation theory.
It’s laid out in the following …
http://macromarkets.com/csi_housing/documents/tech_discussion.pdfAll those engineers out there might appreciate it, but others might want to take a class in Random Signal Theory before reading the details.
May 31, 2007 at 9:54 AM #55712ParticipantThe OFHEO numbers just came out and they have San Diego down about 2%. Sacramento was down about 4%.
May 31, 2007 at 9:54 AM #55730ParticipantThe OFHEO numbers just came out and they have San Diego down about 2%. Sacramento was down about 4%.
May 31, 2007 at 10:03 AM #55714Cow_tipping
ParticipantSacramento was down 4% … OK tell that to the bank that loaned Casey Serin the 330K for the Larchmont house right ~ 1 year and 2 months ago and sold it last month for 199K.
Yup, its only 4%.
Cool.
Cow_tipping.May 31, 2007 at 10:03 AM #55732ParticipantSacramento was down 4% … OK tell that to the bank that loaned Casey Serin the 330K for the Larchmont house right ~ 1 year and 2 months ago and sold it last month for 199K.
Yup, its only 4%.
Cool.
Cow_tipping.May 31, 2007 at 10:10 AM #55722ParticipantOFHEO may be inaccurate for high-priced regions. It uses data from Fannie Mae and Freddie Mac, so I believe it only reflects conforming loans (less than 417K). Their numbers are probably representative in a lot of areas of the country, but may be significantly biased towards the lower end in areas like southern California.
May 31, 2007 at 10:10 AM #55741ParticipantOFHEO may be inaccurate for high-priced regions. It uses data from Fannie Mae and Freddie Mac, so I believe it only reflects conforming loans (less than 417K). Their numbers are probably representative in a lot of areas of the country, but may be significantly biased towards the lower end in areas like southern California.
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