Tuesday , October 15 2019
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Tag Archives: Housing

Some Links

My intrepid Mercatus Center colleague Veronique de Rugy is rightly critical of Sen. Tom Cotton’s economically illiterate – if politically convenient – scheme of rebating tariff revenues to taxpayers. A slice: Cotton’s bill also demonstrates his lack of economic understanding. Mary Lovely, a trade economist at Syracuse University and the Peterson Institute, aptly pointed out to me by email: “Taxpayers are not made whole when tariff revenue is returned to them. Taxes create excess burden...

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IPOs Crash & Burn, Debris Hits Housing, Office Markets

Signs are now all over Silicon Valley and San Francisco. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: OK, here’s a sobering thought. Some of the biggest IPOs in 2019 trade at record lows and all of the biggest IPOs have seen their shares plunge from their peaks. All of these companies have growing revenues but huge losses that in many cases are growing faster than revenues. But they still sport gigantic market valuations, meaning that there is a lot more...

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Silicon Valley Is Slowing, Whether for a Quick Breather or Extended Time-Out, I Have No Idea (Guessing the Latter)

Strongest argument in favor of an air-walking economy is WeWork, Uber, Lyft, and other unicorns destined to never make a dime. Throwing billions of dollars at these losers is a recessionary harbinger. By John E. McNellis, Principal at McNellis Partners, for The Registry: It is a well-established law of cartoon physics that characters may walk on air as long they are unaware of doing so. Once Bugs Bunny realizes he’s airborne, however, gravity reasserts itself, and he plummets to earth....

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Last Week in Review: Monday Sept. 30, 2019

Here is a summary of some of the significant economic data/news that came out last week.Third-quarter 2019 new orders for durable goods remain on track for a second annual decline.  August 2019 Real New Orders for Durable Goods showed a monthly gain of 0.2% [1.0% ex-Commercial Aircraft], but an annual decline of 4.9% [down by 2.1% (-2.1%) ex-Commercial Aircraft].The third estimate of second-quarter gross domestic product was unrevised at 2.0%. But growth was revised sharply lower for both...

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THE WOLF STREET REPORT: IPOs Crash & Burn, Debris Hits Housing, Office Markets

Signs are now all over Silicon Valley and San Francisco (14 minutes). Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate “beer money.” I appreciate it immensely. Click on the beer mug to find out how: Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here.

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The Most Expensive ZIP Codes to Rent in, the Cheapest, and What’s in Between?

Rents in Chicago’s toniest ZIP codes are practically reasonable compared to the craziness elsewhere. OK, this is mind-boggler of a juxtaposition: The most expensive ZIP code to rent an apartment in is 10282, which covers Battery Park City, stretching along the Hudson River at the southern tip of Manhattan, where the average rent has soared 12% over the past 12 months to $6,211. And the cheapest ZIP code to rent in is 67213, which is in Wichita, KS, where the average rent has remained...

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Miami Real Estate Is About To Collapse… This is About Condos, and it Would Be Funny if it Weren’t so Serious

On the surface, Miami’s condo market is in trouble. But beneath the surface, “the whole system is jammed up.” Signs have been piling up that the Miami condo market, where luxury towers are still sprouting like mushrooms, is getting into serious trouble. This has not yet made its way into the overall house price indices for the vast Miami metro, such as the Case-Shiller Index for Miami, in part because it only tracks single-family houses and not condos. But it is showing up in the condo...

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Less-Splendid Housing Bubbles & Crushed Markets in America, September Update

Price gains down to trickle in Chicago. Red-hot Dallas slows. Charlotte & Minneapolis surge. Crushed Detroit and Cleveland hit new highs. Housing market dynamics are local. Just how much they differ from market to market is depicted by the 20-city CoreLogic Case-Shiller Home Price Index. I divide these 20 markets into two parts: The Most Splendid Housing Bubbles in America, where home prices have more than doubled since January 2000, and in some cases nearly tripled; and the...

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The Most Splendid Housing Bubbles in America, Sep. Update

Seattle house prices fall year-over-year. New York condos flat 24 months. San Francisco Bay Area flat 12 months despite startup millionaires. Los Angeles barely up from year ago. Boston ticks up... “Home prices in the West continue their cooldown, with prices in Seattle falling for the third month in a row and home price growth in San Francisco falling very close to zero,” said CoreLogic in a statement about the release of its S&P CoreLogic Case-Shiller Home Price Index today. But...

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Some Links

My intrepid Mercatus Center colleague Veronique de Rugy, writing with Jack Salmon, rightly criticizes popular proposals to further subsidize higher education. Kai Weiss eloquently exposes the fatal conceit of Mary Eberstadt, J.D. Vance, and other “national conservatives.” A slice: As Steven Horwitz writes in another reply to Vance over at EconLib, simply because Vance thinks government should solve all of the crises he has diagnosed, does not mean it would be successful in it. In fact,...

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