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A house price index (HPI) measures the price changes of residential housing as a percentage change from some specific start date (which has an HPI of 100). Methodologies commonly used to calculate an HPI are hedonic regression (HR), simple moving average (SMA), and repeat-sales regression (RSR).
A housing affordability index (HAI) is an index that measures housing affordability, usually the degree to which the median person or family in a particular country or region can afford housing/housing-related costs. [1] [2] [3] Housing affordability is one contribution to the cost of living in an area; measured by the cost-of-living index. [3]
According to the Times of India, "a majority of Indians have per capita space equivalent to or less than a 10 feet x 10 feet room for their living, sleeping, cooking, washing and toilet needs." [3] The average housing area is 103 sq ft per person in rural areas and 117 sq ft per person in urban areas.
Bubbles can be determined when an increase in housing prices is higher than the rise in rents. In the US, rent between 1984 and 2013 has risen steadily at about 3% per year, whereas between 1997 and 2002 housing prices rose 6% per year. Between 2011 and the third quarter of 2013, housing prices rose 5.83% and rent increased 2%. [19]
However, they started to fall in November 2022, with prices down 2.4% from the peak in June 2022, according to the Case-Schiller National Home Price Index. Experts are predicting another 10% to 15 ...
Average U.S. existing home prices are up by nearly 6% year-to-date and 2.6% year-over-year, which is “well above the median full calendar year increase” in more than three decades of data ...
The ministry also published the National City Rating, which ranked the cleanest cities in India, under which Indore was rated as the cleanest. [5] The ministry announced Smart Cities in India on 27 August 2015. In July 2019, the ministry released specifications for Metrolite transport system - a cheaper, smaller and slower metro system. [6]
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