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Long-time readers have probably seen some version of this a number of times, but I have been poking around in the awesome Zillow data, and... [Read More]
I have written previously about the yield curve. It appears to me that as interest rates get lower, there is an option value embedded in... [Read More]
When I was thinking about the previous housing post, I decided to revisit some basic data on debt outstanding to get a sense of the... [Read More]
CPI of all items less food, energy, and shelter for the previous 6 months (annualized) is about 0.6%. I suspect that the year-over-year measure will... [Read More]
Here is a Wall Street Journal article from February 2002, headlined, Housing Market's Sustained Growth Prompts Talk of a Coming Decline (HT: Nick Timiraos) It's... [Read More]
Almost anyone you hear talk about the housing market today, and the recent levelling off we have seen in some measures, will mention affordability as... [Read More]
To follow up on the previous post, here is a Fred graph comparing various measures of homebuilding. Source Sorry, it's a bit messy. The orange... [Read More]
I have previously wondered about the actual measure we should use for yield curve inversion. My impression is that generally, the absolute flat level is... [Read More]
I recently saw some research that suggested that the cost of building in the San Francisco area was high - that the typical new unit... [Read More]
I'm sure I have covered some of this before, but I thought I would just walk through the financial crisis purely from a safe asset... [Read More]
Bill McBride has a post up at Calculated Risk remembering testimony from Alan Greenspan in 2005. This strikes me as a good example of the... [Read More]
Here is an interesting symposium at the NBER on the financial crisis (HT: MR). Previously, I have written about how the crisis and its presumed... [Read More]
I recently saw these graphs, from the IMF: Source Source Here is text from their Global Financial Stability Report (Chapter 2), The prolonged period of... [Read More]
Scott Sumner has recently been making the case for the efficient market hypothesis. I'm basically with him on this, especially when it comes to public... [Read More]
Here is a story about rising minimum wages leading restaurants in San Francisco to automate or use self-service features. (HT: MR) Recently, I argued that... [Read More]
One facet of the housing market that gets a lot of attention is the very low level of inventory, especially in low-tier markets. It looks... [Read More]
I have been seeing reports of falling rents in various cities. Zillow data generally shows a decline in rent inflation over the last couple of... [Read More]
The Federal Reserve has a new article (HT: Noah Smith) posted that is a great example of the problem of trying to develop new understanding... [Read More]
From Andrew Ross Sorkin's Too Big to Fail (pg. 190), from the summer of 2008 before Fannie (OTCQB:FNMA) and Freddie (OTCQB:FMCC) were taken over by... [Read More]
More of the same this month. I think this month might accelerate the slow motion train wreck, because it is being widely reported as accelerating... [Read More]