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Economist Karl Case, developer of Home Price Index, dies at 69

New York

KARL Case, an economics professor at Wellesley College who helped revolutionise how home prices are tracked by real estate professionals and homebuyers alike, has died in Wellesley, Massachusetts. He was 69.

Mr Case had Parkinson's disease and multiple myeloma and died in a hospice near his home on July 15, his wife, Susan, said.

While the daily ups and downs of prices for stocks and bonds have long been easy to obtain and analyse, the housing market was much more opaque when Mr Case teamed up in the 1980s with a Yale economist, Robert Shiller, to develop an economic model to track home values.

The two collected information, such as the price of the same property over time as it changed...

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