Friday, November 30, 2007

I was waiting for this

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From this morning's Wall Street Journal Even as the national housing market has been hit by slow sales and falling prices, Manhattan has...
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Thursday, November 29, 2007

Harvard Joint Center for Housing Conference on Understanding Consumer Credit

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I have spent the past two days participating in a conference at Harvard Business School on Consumer Credit (so it became a conference about ...
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Monday, November 26, 2007

Fareed Zakaria's column this week is worth reading

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It is here: http://www.newsweek.com/id/70991 The point is that America is shooting itself in the foot by making it difficult for foreigners ...
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Hoisted from Mark Thoma's comments

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Mark Thoma was kind enough to refer to my post on forecasting housing prices. ONe of the comments came from Fishy Math: Fishy math says......
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Three principles for avoiding future subprime messes

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Changes in policy should accomplish three things: (1) It should make sure that all parties in the lending chain have “skin in the game.” Wh...
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Long run vs Short run

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I should follow us my earlier post by noting that while expectations can be ideosyncratic in the short run, they are probably about right in...

Pleasant memories

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One of my cousins got married this weekend, and in the course of the festivities, my family (all my immediate and some of my extended) went ...

Brad Delong cites the FT on The Arnold and Subprime

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http://delong.typepad.com/sdj/2007/11/i-may-have-to-r.html By bringing together four large subprime lenders and getting them to cooperate, S...

The problem with forecasting house prices

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The value of a house should, in equilibrium, be its capitalized rents. Its capitalization rate is (roughly) the after-tax required rate of ...
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Wednesday, November 21, 2007

Happy Thanksgiving!

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Let's hope nothing too eventful happens this weekend. See you on the Mass Pike!

Oy vey

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On July 16 I wrote: The current 10 years treasury rate is 5.1 percent; Cap Rates on San Francisco office buildings are running around 5.5 pe...
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Freddie Mac's Earnings

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Yesterday was not a good one for Freddie Mac: its earnings were substantially more negative than nearly everyone was expecting, and the valu...
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Tuesday, November 20, 2007

144 years ago yesterday

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Brad Delong's blog reminds me that this was spoken: Four score and seven years ago our fathers brought forth on this continent, a new na...
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How to reform Division I sports?

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This is from Gregg Easterbrook's TMQ column today. I don't care that much for his "serious" stuff, but he has the best fo...
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Monday, November 19, 2007

Worthwhile reading on Wamu vs Cuomo

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http://globaleconomicanalysis.blogspot.com/2007/11/tanta-on-wamu-vs-cuomo.html Tanta On WaMu vs. Cuomo There was a great post by Tanta on C...
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A Clue as to Why Goldman is So Good

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The Times this morning has a flattering piece on Goldman-Sachs. And no wonder: they took hedge positions that have increased the company...
Sunday, November 18, 2007

Manski and Identification

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I am teaching Charles Manski's great book on Identification Problems in the Social Sciences right now (I must say that I find his writin...

Suburbs Separated at Birth?

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I live in Bethesda, Maryland a suburb immediately outside of Washington. My in-laws live in S. Pasadena, CA, a suburb immediately outside o...
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Why we get in this business

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GW inaugurated its new president last week, and I attended or was involved with a number of events surrounding the festivities. The highlig...
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Wednesday, November 14, 2007

Foreclosures

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From this morning's WSJ: Among the nation's 100 largest metropolitan areas, Stockton, Calif.; Detroit; and Riverside-San Bernardino,...
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