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Reuters--Most closely watched U.S. home price measures lack enough local data to truly reflect house values and are overstating the extent of price drops, executives at a real estate analytics firm said Monday.
...“What we find is that on the way down, Case-Shiller overestimates the decline by about 10 percentage points or so, and on the way up will do the same thing,” said Miller, who is a professor at the University of San Diego’s Burnham-Moores Center for Real Estate as well as a co-founder of Collateral Intelligence. (Full Story)
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