Jim Grant reported some fascinating numbers in his latest issue of Grant's Interest Rate Observer.
Jim says that from 1983 to 1998, housing sales stayed relatively constant, representing between 8% and 10% of GDP.
As of the latest numbers, home sales are at 17%.
For the statisticians out there, that's 3.4 standard deviations from the mean.
Dr. Steve Sjuggerud June 6, 2005

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