Comments on: Even more candor from the National Association of Realtors http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/ Tracking Charlottesville's Real Estate Market since 2005 Mon, 13 Feb 2012 12:10:41 +0000 hourly 1 http://wordpress.org/?v= By: Jim Duncan http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13557 Jim Duncan Thu, 21 Feb 2008 19:16:29 +0000 http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13557 This is from an email exchange with one of the folks at <a href="http://calculatedrisk.blogspot.com/" rel="nofollow">Calculated Risk</a>, referencing <a href="http://www.realcentralva.com/2008/02/17/this-is-exactly-what-the-nar-should-be-doing/" rel="nofollow">this post about Mr. Yun</a> (posted with permission). - "'As with NAR, the OFHEO price index also essentially computes price changes by placing equal weights on all homes. All homes are treated equally.'" NAR prices are based on the median price (as Yun notes earlier), the OFHEO price index is a repeat sales index like Case-Shiller. The difference in weighting (between OFHEO and Case-Shiller) isn't based on price - as Yun suggests - but based on the time between sales. There are also other differences between OFHEO and Case-Shiller. I've chatted with the OFHEO economist Yun mentions, Andrew Leventis, and I think Yun misunderstands his research (BTW, I've also exchanged emails with Wessel at the WSJ on this topic before he wrote that article)." This is from an email exchange with one of the folks at
Calculated Risk, referencing
this post about Mr. Yun (posted with permission). –

“‘As with NAR, the OFHEO price index also essentially computes price changes by placing equal weights on all homes. All homes are treated equally.’”

NAR prices are based on the median price (as Yun notes earlier), the OFHEO price index is a repeat sales index like Case-Shiller. The difference in weighting (between OFHEO and Case-Shiller) isn’t based on price – as Yun suggests – but based on the time between sales. There are also other differences between OFHEO and Case-Shiller.

I’ve chatted with the OFHEO economist Yun mentions, Andrew Leventis, and I think Yun misunderstands his research (BTW, I’ve also exchanged emails with Wessel at the WSJ on this topic before he wrote that article).”

]]> By: Jim Duncan http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13541 Jim Duncan Thu, 21 Feb 2008 15:20:41 +0000 http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13541 <blockquote>They did nothing to deserve this current dilema</blockquote> Sure they did - they overbuilt. They didn't anticipate the rapidity and severity of the market shift (not too many did).

They did nothing to deserve this current dilema

Sure they did – they overbuilt. They didn’t anticipate the rapidity and severity of the market shift (not too many did).

]]> By: Blue Ridge Mountain Real Estate http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13536 Blue Ridge Mountain Real Estate Thu, 21 Feb 2008 12:27:59 +0000 http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13536 Hmmmmm..... So what are the developers supose to do. They did nothing to deserve this current dilema. We have so many homeless people in the US and people who want homes lets temporary house these people and move on. Slowly release the homes back into the market. I also think if were gonna for the developers to do anything it is to go "green". We are simply in denial if we don't start green practices. I to appreciate the candar and hope to hear more from NAR in future. Hmmmmm….. So what are the developers supose to do. They did nothing to deserve this current dilema. We have so many homeless people in the US and people who want homes lets temporary house these people and move on. Slowly release the homes back into the market.

I also think if were gonna for the developers to do anything it is to go “green”. We are simply in denial if we don’t start green practices.

I to appreciate the candar and hope to hear more from NAR in future.

]]> By: Scott Brunner http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13528 Scott Brunner Thu, 21 Feb 2008 03:34:24 +0000 http://www.realcentralva.com/2008/02/20/even-more-candor-from-the-national-association-of-realtors/#comment-13528 I keep telling y'all, Yun is the real deal.... I keep telling y’all, Yun is the real deal….

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