They coauthored a book last year, Putting Our House in Order: A Guide to Social Security and Health Care Reform, that details policy solutions for America's underwater entitlement programs.
Lord Hill - the same age as his predecessor - faces a difficult job in which he will have to guide legislation through an Upper House where tensions have been on the rise.
If house prices in general are moving in line with the price of a typical house, this approach gives a good guide to changes in housing wealth, which is what matters for the Bank of England as it assesses the economy.