Posted by Leonard Steinberg on February 8th, 2012

Rick Santorum just proved to the world that there is no such thing as an AVERAGE Republican with his dramatic wins in Colorado, Minnesota, and Missouri…..there are Romney Republicans, Gingrich Republicans and Santorum Republicans. No averages here. And it proves yet again that averages are hugely inaccurate. There are Republicans who are mostly focused on capitalism and others most focused on small government. There are extremes at either end of each party, not just between parties.

This reminds me again how bad averages are in real estate statistics too. There are sales happening in Manhattan around $ 10,000/sf and $ 1,000/sf. They are happening in different buildings, in different parts of the City, in different parts of buildings. And averaging them is simply mis-information. This is within Manhattan alone……now multiply that out to the entire US Market. So whenever I see any averages that are not very specific and targeted, I have to laugh: those averages are mis-information and useless.