๐ The Biggest Industry in Every State, Mapped
Makes for an interesting read .. and then I saw that Real Estate was the biggest industry in California .. and I thought wait .. thereโs tech, entertainment, aerospace, agriculture .. real estate out performs them all?
And then I read โฆ
This is largely because the Bureau of Economic Analysis treats homeowners as landlords renting to themselves, and includes the rental value in GDP. If economists did not include this value, a jump in the homeownership rate would cause GDP to drop.
Talk about measuring the wrong things!