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Homeownership rates and severity of financial crisis

The St. Louis Fed produced the above graph showing that nations with higher homeownership rates were hit harder by the 2007 financial crisis and are still dealing with greater aftereffects today. Nations with the most rental properties like Switzerland and

Posted in Macro, Real Estate

88 years of unemployment data

Unfortunately FRED has four different somewhat-overlapping data series that must be combined to get the full, long-run picture of the unemployment rate from 1929 to the present. The first data series in light green is undoubtably the least accurate of

Posted in Labor, Macro

New Monetarism as a third way beyond Hayek vs. Keynes?

David Glasner is a conservative economist who greatly admires Hayek and even thinks that Hayek’s macroeconomic theories have some merit even if they are weaker than many other theories.  He is part of a small band of conservative economists that is

Posted in Macro

House prices are crazy overvalued in Canada too

Canada is experiencing the hydrogen zeppelin of all real estate bubbles. It makes the 2008 US housing crisis look like a birthday balloon by comparison.

Posted in Globalization & International, Macro, Real Estate

Now is the best time for Americans to list a house for sale

According to data from the National Association of Realtors, US housing prices are higher now than they have been in six years and more of them are selling at the asking price or above. Furthermore, early summer is the best

Posted in Macro

House prices are a bit high in the US and crazy overvalued in New Zealand

New Zealand is experiencing the hydrogen zeppelin of all real estate bubbles. It makes the 2008 US housing crisis look like a birthday balloon by comparison.

Posted in Globalization & International, Macro, Real Estate

Robin Hood and broken window facts and fallacies

Note: This is an update of two previous posts. The broken window ‘fallacy’ is an enduring parable invented by Frédéric Bastiat in 1850, and popularized in English by Henry Hazlitt (chapter 2) in his attempt to combat the dominance of

Posted in Macro

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