Abstract
The weak housing market has been one of the most important business stories of 2007. A weak housing market decreases the value of a house. As a result, the wealth of the individual consumer drops, decreasing their financial security. There are many ways to measure the weakness in the housing market such as the number of house sales, foreclosure rates, and median house prices. However, for the homeowner the most important value should be the quality adjusted price index for housing in their area. A price index gives an idea of how prices are changing for houses with the same size, building materials, location, and many other characteristics.
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