Macroeconomics is the widest view but most important measure of the economic system. As practical to housing, it would address influencing factors for example disposable income, migration, available working land, interest rates, and so on. Macroeconomics in real estate applies to national or regional data, with the regional data characteristically being the MSA (Metropolitan Statistical Area), what is more at present called the CSA (Combined Statistical Area), of which there are just about 400 in the US. The MSA or CSA is often referred to as a "market."
All this data was obtainable, and a lot of eyes were surveillance, so how did all macro data fail? Part of the difficulty is that most professionals only have right to use to free or inexpensive data or information. You cannot create better assessments than the data obtainable. Not only is much of the relevant data not free, it is very firm to find. Then integrating the information into meaningful outcomes is a no-trivial task.
In assessing an actual estate investment decision, you can inspect data from various sources that consider the possessions itself, the block, the Census Track, the Zip Code, the County, the MSA/CSA, the state, and the country. Surely the farther and farther you go out, the less significance and meaning you have in trying to assess any particular valuation.
Any of us in real estate know you can drive around any area beyond a very local area and see that there is nothing homogeneous about any city or neighborhood in America. While this is intuitive, you cannot discover any free data or voluntarily available data to makes a accurate assessment of a specific local market condition. The more unsure or unstable the conditions, the riskier an assessment becomes. We have now gone during a time that depictions the flaws in the tools we have been using.