New Evidence on Home Prices from Freddie Mac Repeat Sales
将Case和Shiller的加权重复销售价格指数方法应用于弗雷迪·麦克公司过去二十年超过八百万笔贷款数据,报告区域价格指数并与其它来源比较,发现新指数在1985年后增长显著更快。
The weighted repeat sales price index methodology recently reported in Case and Shiller [5] [6] is applied to a dataset of over eight million loans bought by the Federal Home Loan Mortgage Corporation over the last twenty years. Regional price indices are reported and compared to indices from other sources. Statistical issues in the creation of the index, both technical and due to sample selectivity of the Freddie Mac dataset, are extensively discussed. It is found that the new index grows at a rate similar to other indices up until 1985, after which time it grows at a significantly higher rate.