Question

Using the CPI-adjusted price series what was the median price of a new house in 1980 and in 2015? What was the percentage increase in the adjusted price of a median house between 1980 and 2015?

Answer 1

Answer:

The percent increase: = 57.80%.

Explanation:

1980 (CPI-adjusted): 78,545.41776

2015 (CPI-adjusted): 123,944.78325

The percent increase in price is =123,944.78325/ 78,545.41776  *100

 

=57.80%

Thus, the percent increase: = 57.80%.