I would like to know what this figure of 4.2% is.
Is it the PPI as defined here
http://app.mti.gov.sg/data/article/3...ertyIncome.pdf
if it is , and before everyone starts jumping, I'm not sure it is......... (are we clear?)
the formula is NOT based on actual property transactions!
figure is based on GDP, interest rates and stockmarket index. and apparently uses 12 quarters of data.
If this is the way the index is calculated, then you can see it is possible for this index to rise, even if actual property transactions fall.
Read the article , I would love to see the most recent data plotted this way, you can clearly see if we are experiencing a bubble or if prices are justified. Nice, non emotional , data driven.