2 responses to “wow.”
i’ve always known you to ferret out the facts before posting anything to your blog and haven’t considered your posts overly one-sided, but this through-the-roof, graphical support of what we’ve all suspected for some time now sure made me wonder if you might have inadvertantly stumbled across the historical real estate findings of a single zip code. but with a little googling, there it was… the raw data in an excel spreadsheet available for download just two clicks away from a Yale domain*.
if the data are/is/whatever to be believed (one amazon reviewer writes “the data, especially the data on real estate, are highly suspect. Even the author admits he has no real checks on the data he has compiled. And as a result, the subsequent analysis is to my mind a case of garbage in, garbage out.”), then robert shiller is my hero. this means that our decision to sell our home last year and move into mom’s house for 2-3 years is my personal score of the century. we’ll be able to buy mr ken’s mtv pimp house if the index falls anywhere near the 1890 mark.
but i always have to look at these kind of things and wonder… how did this person unearth such marvelous findings while others have spoken so passionately in argument of the exact opposite (in this case that there is no bubble)? are the “opponents” sufficiently motivated by greed or is the writer just pimping pulp? what is the truth, cap’n e? somewhere in between, i’m guessing.
* start –> http://www.econ.yale.edu/~shiller/
click 1 –> http://www.irrationalexuberance.com
click 2 –> http://www.irrationalexuberance.com/Fig2.1Shiller.xls