In his 2008 book The Ascent of Money, Niall Ferguson observed that the English speaking peoples are obsessed with housing, and that “No other fact of financial life has such a hold on the popular imagination.” By extension, Ferguson might agree that no other market good brings out the stupid within American pundits, economists, and politicians like […]
How Could It Be a “Crisis” That Americans Can’t Afford a House? Read More »
An insufficiency of share supply was holding down Goldman Sachs shares not long after it went public in 1999. That’s why Goldman’s partners were given a chance to sell more of their shares in a secondary offering. A lack of “float” in GS shares made it difficult for the biggest institutional investors to own
Institutional Investors Are Asking To Do Your Worrying For You Read More »
“The U.S. must build, baby.” The latter is the subhead to a recent opinion piece published at the right-of-center Manhattan Institute. Supposedly the easy answer to housing affordability is “build baby, build.” On the left, Ezra Klein and Derek Thompson are presently being lionized for promoting an “abundance” agenda of more homebuilding that will supposedly make
Nosebleed Housing Prices Aren’t Signaling What the Experts Think Read More »
