Category: Capital

The ‘I don’t like you’ tax

6 March, 2013 (14:32) | Appraisals, Capital, China, Global news, Hong Kong, Local issues, Ownership, Real estate taxes, Rental, Singapore, Speculation, Valuation |

By:David A. Smith   For the most full-on Monet of reasons (“from far away, it’s okay, but up close it’s a big old mess”), Signapore has imposed a hefty surtax on foreigners buying residential property in their thriving city state.  As reported in the Wall Street Journal (January 29, 2013):   Singapore’s Housing Tax Hits […]

Moving jobs to housing

4 October, 2012 (14:12) | Capital, Homeownership, Housing, Innovations, Markets, Networks, Speculation, Technology, US News |

By:David A. Smith   Which is easier to relocate, a job or a home?    The joke is told of the economist with one foot in a bucket of boiling water, the other in a bucket of ice: “On average, I’m doing fine.”   At the moment, I’m doing fine   That question came up […]

Might as well outlaw doubt

28 September, 2012 (09:15) | Africa, Angola, Capital, Currency, Ghana, Global news, Inflation, Markets, Money, Policy, Regulation, Zambia |

By:David A. Smith How confident are you?   Among the many reasons that money, that is the portable and numerical denomination of freely tradable symbols of value, is one of humanity’s greatest inventions (mathematics is discovered, money was invented) is its power to rebalance power between questionable rulers and poor people – and, as shown […]


17 August, 2012 (10:24) | Capital, Economics, France, Housing, Incentives, Markets, New York City, Remittances, Taxation |

By:David A. Smith   August is the month all Paris goes on vacation, and in September, most of them return – though that may not be quite so much so in this year’s France, for incoming President Francois Hollande has done almost everything he can to chase French capital out of his country, as reported […]

The emperor’s risk rating: Part 2, but no risk for me

12 January, 2012 (10:39) | Banks, Basel rules, Capital, Capital markets, Global news, Mortgages, Regulation, Securitization, Theory |

[Continued from yesterday's Part 1.]   By: David A. Smith   In both explicating and quarreling with Peter Wallison‘s most recent Wall Street Journal op-ed piece on the perils of regulation, particularly the Basel accords, we spent yesterday explaining the risk-weighting requirements and observing the perverse consequences of weighting pools of mortgage-backed securities (MBS’s) as […]