The Real Deal Miami

Economists debating housing market indices

April 24, 2009 02:02PM

Economists are arguing about where the country is in its housing cycle. No economist has found a way to measure changes in housing prices because even houses in the same neighborhood aren’t necessarily alike, and incentives given to buyers distort the publicly recorded prices. Economist Thomas Lawler has tried to deal with these problems by creating an alternative to Robert Shiller’s housing index.