What source is that? The ones that don't say inflation is 1.7%?
I'd like to point out as the other poster did that you shouldn't look at housing in development constrained areas (though that's a very interesting sidebar to the whole thing - how much of development constraint exists to prop up housing prices)?
I'd like to point out as the other poster did that you shouldn't look at housing in development constrained areas (though that's a very interesting sidebar to the whole thing - how much of development constraint exists to prop up housing prices)?
Incidentally "official" inflation in the SF Area is 2.7%, still not 3-7%. (http://www.bls.gov/regions/west/news-release/consumerpricein...)