Category: Markets

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 […]

History of US public housing: Part 6, the HOPE revolution

7 November, 2008 (05:31) | Cities, Essential posts, History, Markets, Public housing, Tenure, US News | No comments

[Continued from the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.]

 
“Can this man save public housing?” asked the Boston Globe, its cover image hinting at its hoped-for answer, and for four eventful years, Harry tried.
 
And failed.
 

Sorry, Harry; admirable try
 
Indeed, for public housing, the pair of decades of the Eighties and Nineties […]

Inflation is the young’s revenge …

4 November, 2008 (10:52) | Essential posts, Holmes on housing, Markets, Policy, Theory, US News | No comments

“If revenge is a dish best served cold,” said Holmes, “then inflation is a dish long marinated.”
 
Fearing the worst, Watson folded the Times and composed himself in the attentively placid pose appropriate for the straight man.  “Yes?”
 

Watson knew a disquisition was about to begin
 
Holmes unlimbered his long legs.  “Inflation is the young’s revenge on […]

History of US public housing: Part 5, the cities hit bottom

31 October, 2008 (04:02) | Cities, Essential posts, History, Markets, Public housing, Tenure, US News | No comments

[Continued from the preceding Part 1, Part 2, Part 3 and Part 4.] 
[For more on my views of public housing, see Public housing: the Ghost of Christmas Yet to Come (June, 2006), Public housing’s Gordian’s knot (December, 2006), and The essential housing authority (September, 2007).  Dozens of marvelous photographs are in the LaGuardia-Wagner archives.]
 
As we’ve seen […]

History of US public housing: Part 4, the white-flight era

3 October, 2008 (08:36) | Cities, Essential posts, History, Markets, Public housing, Tenure, US News | No comments

[Continued from the preceding Part 1, Part 2 and Part 3.]
 
In covering the history of public housing using MIT Professor Lawrence Vale’s comprehensive study, From the Puritans to the Projects, we’ve seen that public housing arose from a Christian-charitable impulse, was adopted by the late nineteenth-century’s enlightened progressives, and first found expression as a government activity […]