Month: November, 2008

Slow expulsion from Paradise: Part 1, just coincidence, I’m sure

20 November, 2008 (13:08) | Local issues, Mobile homes, Paradise Park, Policy, Tenure, US News | No comments

[Some previous posts on Paradise Park may be found in Part 1, Part 2, Part 3, Part 4, Part 5] 
[B]y misfortune, one says that God is always for the big battalions. – Voltaire.
 

We lost our right to buy
 
On television, justice is swift; in life, anything but, as revealed by the ongoing mini-saga of Paradise Park.  [...]

Where does *your* market hurt?

19 November, 2008 (09:45) | Condos, Markets, Subprime, US News | No comments

Granular data has the annoying habit of disrupting the mythic narratives that we construct for ourselves,.  Although to read the newspaper you’d think the real estate downturn was omnipresent, in fact the pain is unevenly distributed. 
 

It only hurts when I sell, doctor
 
This is demonstrated by a really nice piece of quantitative analysis by my [...]

Jefferson’s curse? Part 2: small means weak

18 November, 2008 (10:19) | Banks, Capital markets, Regulation, Theory, US News | No comments

[Continued from yesterday's Part 1.]

In yesterday’s post, exploring the US’s banking history via a well-reasoned and opinionated Wall Street Journal op-ed by banking historian and essayist/ fulminator John Steele Gordon, we had reached the stage of circling liquidity injections and confidence injections as essential responses to financial crises. 
 

Hold still for the liquidity and confidence
 
It’s [...]

Jefferson’s curse? Part 1: confidence and liquidity

17 November, 2008 (09:25) | Banks, Capital markets, Regulation, Theory, US history | No comments

Chaos ensues when an enterprise’s span of activity is greater than the span of judicial or regulatory consistency. That, at least, is the plausible hypothesis behind the emergence of the FBI, brought into being to chase Bonnie and Clyde across state lines; and Interpol, created to pursue criminals throughout Europe.

Eliot Ness, 1929: you need [...]

Green grow the dollars

14 November, 2008 (09:41) | Energy savings, Housing, Policy, Tax credits, US News | No comments

Green is the new black, for three reasons identified by The Economist: 
A green-home boom is getting under way, thanks to:
 
1.  Rising energy prices
 

And rising …
 
2.  New standards (the European Union’s Energy Performance of Buildings Directive, Britain’s Code for Sustainable Homes and California’s Green Building Standards Code, to name three recent examples), and
 

Not just a [...]