The Math Of Housing Prices

What do median house prices tell me? Picture © Justin Smith / Wikimedia Commons, CC-By-SA-3.0
What do median house prices tell me? Picture © Justin Smith / Wikimedia Commons, CC-By-SA-3.0

In terms of house prices, the city where I live avoided the worst of the Global Financial Crisis. There was a spurt in house prices that stopped in 2007, but after that, prices didn’t crash, they plateaued. Now, I rent a house, and I also own a house which I rent to someone else. One day, I’d like to sell the house I own, and buy one to live in. Naturally, I pay attention to newspaper headlines like “House Prices Plummet In May!”

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