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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (36320)	7/26/2005 10:57:09 PM
From: gpowell	Read Replies (2) \| Respond to of 306849

It’s a measure of the marginal rate of substitution between housing and other goods the household consumes. The estimate of this “rate of substitution” determines the weight. For instance, given a good with perfectly elastic demand with respect to price change – if the price changed the quantity consumed would fall to zero and the good’s price inflation would not be included in CPI inflation, i.e. its weight would be zero.