don't disagree with any of Robert Shiller's facts here, but this type of analysis is largely irrelevant for humans http://nyti.ms/29DAPg6
do you know of any good studies on the long-term land capitalization of Prop. 13?
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I believe Ken Rosen looked at this in early 80s. Prob time for a revisit: http://www.jstor.org/stable/1831240?seq=1#page_scan_tab_contents …
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