Awesome comment! You're spot on that PCE is more aggressive on the substitution. The CPI does some, but only within the item categories so it's not as significant and is part of why the CPI is generally higher than the PCE. Here's a good article on the differences between the two price measures: www.whitehouse.gov/cea/written-materials/2023/09/29/crosswalk-talk-whats-the-difference-between-the-pce-and-the-cpi/#:~:text=Because%20the%20PCE%20formula%20allows,small%20in%20the%20figure%20above.
I live in a brand new house built in 2021 under $200k in Panama park area. I bet the county appraises at $280k but the abandoned/vacant house next door or the prostitution and don’t forget the drugs all add to ambience.There is also a sewer smell from the water treatment I hope it’s that at least.
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Great podcast. Just a comment. I believe PCE does substitution, not CPI
I get lost with all these acronyms. I'm learning more every day
Awesome comment! You're spot on that PCE is more aggressive on the substitution. The CPI does some, but only within the item categories so it's not as significant and is part of why the CPI is generally higher than the PCE. Here's a good article on the differences between the two price measures: www.whitehouse.gov/cea/written-materials/2023/09/29/crosswalk-talk-whats-the-difference-between-the-pce-and-the-cpi/#:~:text=Because%20the%20PCE%20formula%20allows,small%20in%20the%20figure%20above.
I live in a brand new house built in 2021 under $200k in Panama park area. I bet the county appraises at $280k but the abandoned/vacant house next door or the prostitution and don’t forget the drugs all add to ambience.There is also a sewer smell from the water treatment I hope it’s that at least.
Were you familiar with the area before you purchased?