Can the American Dream Be Fixed?

Can the American Dream be Fixed? Back in February of 2023, we wrote about the housing affordability problem. Unfortunately, the situation has failed to improve and we are seeing more policy prescriptions to ‘fix’ the housing market. Will they work? History suggests that they will not. Markets need to re-balance and that will take time. […]
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Back to the Future | May 15, 2021

Back to the Future Inflation is an enemy we have not seen for a long time. Housing inflation can be particularly harmful because housing is about 17% of GDP. Building costs are rising rapidly. Existing home prices are rising rapidly. Unless incomes rise rapidly too, we are headed for a fall. Last week we discussed […]
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