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Dr. Peter Linneman, Leading Economist, Professor Emeritus, The Wharton School of Business
The Walker Webcast
The Importance of Housing
Economists over predicted where inflation would be and were basically right in line with what you said it would be. You saw that the main driver of the inflation numbers were two things. One they were doing year over year and a year ago was very bizarre during the first half of this year. And the second issue was that they were worrying what was happening now to housing and housing as we've talked about a big component of those indexes. It completely mischaracterized in terms of what's going on.
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