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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (25798)	9/14/1999 6:10:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

Les, thanks for the CPI info...Robert, i guess this answers whatever questions you may have still had about the CPI's bias. one thing i'd like to add: a recent private survey of rents in NYC came to the conclusion that year-on-year rents in some areas have risen as much as 28% for all practical purposes (that is, if you were trying to swap your apartment for an equivalent apartment). shelter is the largest CPI component and shows a nationwide rise in rents of slightly over 2% year-on-year. that just doesn't sound right to me. elasticity of demand is obviously something that varies depending on necessity, percentage of disposable income,etc. and perfect substitution is an illusion. the question is now: to what extent does CPI actually still reflect reality? regards, hb