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December 12, 2016

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As a former statistician and economist in a research dept of a central bank I love these types of analysis. While it is great use of gganimate there are a host of unwritten assumptions underlying this analysis. One of them being the prices are not corrected for size of asset (i.e. non hedonic case shiller) rendering the comparisons of countries very misleading. Even within country it is very problematic since the variance is usually high. So any conclusions regarding outliers should be made cautiously.

moreover: I wonder what the rural/urban split is in Canada, Australia, and New Zealand vis-a-vis the USofA (the instigator of the Great Global Recession). IIRC, all three are rural wastelands sprinkled with a few cities whereas the USofA has a larger proportionate rural population (we got a lunatic president thanks to them), and cities are where house prices driven up by demand forces of increasing urbanization.

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