Re:The Rise of Bay Area Rents
by dimitar on Wednesday September 18, 2013 @04:11PM
(#6407766)
I would get the data from the same authority that is tracking inflation - rent is included in the basket. In the USA I think the Bureau of Labor Statistics does the 'official' data collection.
Rent prices are pretty uniform - there isn't that much differentiation between properties of the same class (# of bedrooms and location, are what mostly matters; tenants don't make choices based on the type of furniture); so prices are relatively uniform - you don't have to ask a lot of people get those prices.
This is of course confirmed each time someone tries to create yet another index - if you use the same basket and weights, only rarely there are any differences in recorded prices.
Rent prices are pretty uniform - there isn't that much differentiation between properties of the same class (# of bedrooms and location, are what mostly matters; tenants don't make choices based on the type of furniture); so prices are relatively uniform - you don't have to ask a lot of people get those prices.
This is of course confirmed each time someone tries to create yet another index - if you use the same basket and weights, only rarely there are any differences in recorded prices.