Saturday , July 20 2019
Home / Tag Archives: Real Estate

Tag Archives: Real Estate

Housing: Going Wrong In The Few Things That Were Going Right

It certainly doesn’t feel like a bubble. We’ve heard about home prices in many cities skyrocketing like there has been one, still there does seem to be something different. If it is a bubble, it sure isn’t the same as the last one, the big one fifteen years ago. Much is missing this time around. For one thing, prices are disconnected from volume. For all the talk of a boom in the economy the housing sector never joined in. Not really. I wrote last year that a truly booming economy is one that...

Read More »

Reforestation as a Solution for Carbon Capture: Hype and Reality

By Lambert Strether of Corrente A new study from the Crowther Lab at the Swiss Federal Institute of Technology in Zurich published in Science (paywalled, but here is the original) has come out with a recommendation for reforestation as a (partial) solution to carbon capture. The report has gotten a lot of great press — “Stop building a spaceship to Mars and just plant some damn trees” is perhaps the most overheated headline, although the article is good — but there are issues. One issue is...

Read More »

Grenfell Tower Fire: A (Non-)Progress Report

By Lambert Strether of Corrente Today, June 14, is the second anniversary of the GrenFell Tower fire in London, a public housing block where 72 people died in a conflagration where the proximate cause was inflammable cladding installed on the outside of the building during a remodelling, and the ultimate cause was Thatcherite deregulation and a neoliberal infestation in London’s Housing authority (see NC here). From a photo essay, also at NC, published in the immediate aftermath of the fire,...

Read More »

Monthly Macro Monitor: Economic Reports

Is recession coming? Well, yeah, of course it is, but whether it is now, six months from now or 2 years from now or even longer is impossible to say right now. Our Jeff Snider has been dutifully documenting all the negativity reflected in the bond and money markets and he is certainly right that things are not moving in the right direction. But moving in the wrong direction, even deeply, as we discovered in 2015/16, doesn’t necessarily mean recession. This slowdown – and...

Read More »

Three-For-One In Poor Housing Data

We all know the shorthand. The Federal Reserve influences if not controls economic activity by raising and lowering the federal funds apparatus. Reducing the monetary policy targets is stimulus because everyone loves lower interest costs. Raising them therefore has the opposite effect. More direct and visible consequences are supposed to be observed first in the interest rate sensitive sectors of the economy. Wherever borrowing is a substantial input, meaning borrowing costs, monetary policy...

Read More »

New York City’s Newly Passed Green New Deal, Explained

Jerri-Lynn here. NYC has long served as a bellwether for progressive public policies. Recently, the city adopted a single use plastics ban. Last week, it passed its own modest Green New Deal. This initiative falls far, far short of where climate change policy needs to go, but is certainly an improvement on the fossil fuel-friendly agenda of the Trump administration (and its predecessors). By Molly Enking, a new fellow at grist.Originally published at Grist As the rest of the country continues...

Read More »

Writing The New Book On Credit Channel Depression

On June 15, 2007, not even two months before worldwide panic would break out, Federal Reserve Chairman Ben Bernanke was in Atlanta, Georgia, speaking at a monetary policy conference. Sponsored by the Atlanta branch of his organization, as fate would have it Bernanke’s chosen topic was the credit channel for monetary policy. This is something the scholar Bernanke supposedly knew well. He had made his early reputation writing in 1983 about how the Great Depression was made “great” through the...

Read More »

Do Real Estate Markets Make Our Cities Less Livable?

By Aaron Freedman, Communications Strategist & Economics Editor, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Economics Editor Aaron Freedman talks to Samuel Stein, a geography PhD candidate at the City University of New York Graduate Center and an Urban Studies instructor at Hunter College, about his new book, Capital City: Gentrification and the Real Estate State, to be published by Verso on March 5. Aaron Freedman: So...

Read More »

The Fate of Real Estate

For years, realtors have been waiting for more housing inventory. It had become an article of faith, what was restraining a full-blown recovery was the lack of units available. The level of resales like construction was up, but still way, way less than it was now fourteen years past the prior peak despite sufficient population growth to have absorbed the previous bubble’s overbuilding. All the way back in March 2017, the National Association of Realtors (NAR) was lamenting the low number of...

Read More »

Amazon Drops New York City Headquarters Plan in a Snit

When Alexandria Ocasio-Cortez and Michael Bloomberg agree on something, it’s worth taking seriously. Particularly if it involves New York City. Both New York City pols objected to the corporate welfare plan for Amazon, in the form of nearly $3 billion in subsidies, detailed in the Financial Times chart below, for installing one of two “second headquarters” in Long Island City, with the claim that it would “create” 25,000 jobs. Amazon had claimed that the reason it needed an additional...

Read More »