From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Sat Dec 24 2005 - 18:15:44 EST
Hi Jurriaan: Very interesting. I wonder: can this increasing % contribution of OOH to GDP be seen as a refection of the *housing bubble* in US GDP? In solidarity, Jerry > 1960 OOH = 31.3 GDP = 526.4 percentage contribution of OOH to GDP = > 5.9% > 1970 OOH = 61.3 GDP = 1,038.5 percentage contribution of OOH to GDP = > 5.9% > 1980 OOH = 178.4 GDP = 2,789.5 percentage contribution of OOH to GDP = > 6.4% > 1985 OOH = 280.8 GDP = 4,220.3 percentage contribution of OOH to GDP = > 6.7% > 1990 OOH = 412.8 GDP = 5,803.1 percentage contribution of OOH to GDP = > 7.1% > 1995 OOH = 531.2 GDP = 7,397.7 percentage contribution of OOH to GDP = > 7.2% > 2004 OOH = 1,145.2 GDP = 11,734.3 percentage contribution of OOH to GDP = > 9.8% > As you can see, the fraction keeps creeping up, and soon it will be double > what it was in 1970, first breaking that magic 10% of US GDP barrier, > especially given that home ownership among the US population has, with easy > credit, strongly increased (in 2004, there were 112 million US households of > which 77 million were privately owned, i.e. 68.8%. In 1976, the earliest > year for which I could find census data, it was about 42.7%. > So anyway, as you can see, just as with business enterprises, if more people > *own* homes rather than *rent* them, official total productivity measures > increase, and official total net output and GDP goes up.
This archive was generated by hypermail 2.1.5 : Sun Dec 25 2005 - 00:00:02 EST