How to Lie with Real Estate Statistics

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The Illusion that Makes Land Values Look Negative - How Land-Value Gains are Mis-attributed to Capital Dr Hudson is President of the Institute for the Study of Long-term Economic Trends, New York. He has specialised in national income accounting, the balance of payments and flow of funds analysis for leading Wall Street finance houses. A former economics professor at the New School’s Graduate Faculty, he is the author or editor of over ten books on these topics, economic history and the history of economic thought. Land prices are rising in nearly every economy. This worldwide rise reflects primarily the lending of excess savings to mortgage borrowers. The upshot has been that rising land prices find their counterpart in a mushrooming real estate debt. ...