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Showing posts with the label Jennifer Lopez

In Which I Call Bullshit On A HousingWire Story

"I'm not just a singer/actor/dancer/producer.  I'm a statistical anomaly." Did you see the headline from a couple of days ago? “ It costs more to own a home than to rent one in every U.S. state. ” The story talks about how using US Census Bureau data , CNBC was able to compare the median cost of renting a home to the median cost of owning a home. Remember what a median is? A median is “the value or quantity lying at the midpoint of a frequency distribution of observed values or quantities.” In other words, if you have 1,001 houses, exactly 500 will cost more and 500 will cost less than the median home. And this is where the methodology is screwed up. RentCafe took the same data that CNBC used and figured out that in the US, there are 73% more apartments rented than houses . And the Terner Center at Berkley took that same data and determined that “ Today, single-family detached homes make up more than 62 percent of the housing stock in the United States… ” ...