Friday, December 28, 2007

PE Ratios for Housing

Mark Thoma passes along comments from Paul Krugman and Brad Delong on the PE ratio for housing:

http://economistsview.typepad.com/economistsview/2007/12/more-links.html

Krugman thinks a 50 percent fall along the coasts is possible. I am doubtful. The problem with using a PE ratio is the composition of the rental stock evolves differently from the compostion of the owner stock--the quality of owner occupied housing is generally improving more rapidly than the quality of the renter stock. For a working paper on this, see my piece with Cutts and Chang:

http://www.gwu.edu/%7Ebusiness/research/workingpapers/Chang%20Cutts%20and%20Green%203-17-2005%201%20.pdf

This is under revision for a journal--I guess it is time to finish it up!

2 comments:

polo shirts said...

History of polo ralph lauren. Polo fashions had its humble beginnings in 1968 when tie salesman Ralph Lauren gave it a kick start. By 1969 he had a boutique polo ralph lauren factory stores within the Manhattan department store Bloomingdale's. ... Brands and luxury standard. Since Ralph Lauren's first brand, Polo Ralph Lauren, was launched, the company has expanded to include a variety of luxury brands such as Polo Golf, Polo Denim, Polo Sport. You can buy cheap Ralph Lauren Clothing at Ralph Lauren outlet.Also We provide polo shirts
Ralph Lauren polo shirt, 50% OFF! polo ralph lauren outlet online is your best choice!In 2006, polo ralph lauren outlet became the first designer in Wimbledon's 133-year history to create official uniforms for the tournament. As part of this year's event, which starts next week, polo ralph lauren sale will introduces the first ... determination to maintain and enhance the values for which our two brands are famous throughout the world. The rugby ralph lauren brand brings to Wimbledon the look of timeless elegance, drawing on our rich history and traditions

davelindahl said...

David lindahl scam report that the,Tax lien or Deed investing is not a risky factor at all; it takes a little bit factors to ensure that you will get reward in the future due to the property. Never hesitate to call and ask your queries, these counties use this amount from the taxes of the real estate asset to pay their labors and if the real estate asset owner is not going to step forward and give then you and I have the choice make some amount and the county labor usually go “out of their way” to help you. Give it a try.