Re:How Far Does $1 from 1999 Go Today?
by dragonwriter on Monday October 16, 2023 @03:17PM
(#37904821)
> According to the article, $1 in housing in 1999 is equivalent to $1.86 today. That's... incredibly hard to believe. The Case Shiller is up over 300% for the same time period.
Case-Shiller is index of homes-as-an-asset buy prices, the housing component of CPI is housing-as-a-consumed-service rent prices. 1999 was pretty near historical lows for the buy:rent price ratio, today is just off the all-time high, so, yes, now:1999 for buying a home as an asset is very different than now:1999 for consuming housing as a service.
Case-Shiller is index of homes-as-an-asset buy prices, the housing component of CPI is housing-as-a-consumed-service rent prices. 1999 was pretty near historical lows for the buy:rent price ratio, today is just off the all-time high, so, yes, now:1999 for buying a home as an asset is very different than now:1999 for consuming housing as a service.