By Simon Black, Sovereign Man It was only a few generations ago that most people spent their entire lives within a few miles of where they were born. They grew up, lived, worked, and retired, all in the same place. And that was normal. Travel and relocation didn’t really become commonplace until after World War II. But even then, the most common reason people moved was … [Read more...] about One Weird Sign of Trouble in the Banking Sector
Housing
The Economics and Politics of Zoning
By Ash Navabi Both economic decisions and political decisions involve choices and tradeoffs. The difference is that economic decisions are ultimately informed and rely upon monetary prices, revenues and costs. Political decisions, meanwhile, do not depend on market outcomes—they can be based on love, legacy, favors, or establishing power relations. Zoning is the practice … [Read more...] about The Economics and Politics of Zoning
Manhattan Luxury-Apartment Sales Plunge After New Transfer Tax
By Tyler Durden A new report from The Wall Street Journal shows how a new transfer tax in Manhattan has led to a slump in sales of luxury properties this summer. The new tax, basically a one-time payment on homes valued above $2 million, was enacted on July 01. The new policy led to a massive surge in June sales of luxury residential properties. But when it came time … [Read more...] about Manhattan Luxury-Apartment Sales Plunge After New Transfer Tax
The Way Not to Fix Education, Housing, and Health Care
By Daniel J. Boudreaux As long as the reality of human existence remains on the imperfect side of paradise — mired in scarcity, often unpredictable, and always carrying at least a small risk of calamity for each individual as well as for groups — some people will complain about the state of reality. Indeed, as human welfare improves, such complaints grow more frequent and … [Read more...] about The Way Not to Fix Education, Housing, and Health Care
A Tale of Two Bubbles: How the Fed Crashed the Tech and the Housing Markets
By Luka Nikolic Since its founding, the Federal Reserve has had a hand in creating some of the largest bubbles in history. When the bank lowers interest rates, there is excess cash in the economy, making it relatively cheap for anyone to borrow. This creates malinvestment in the economy because while not everyone has profitable ideas, many more people can borrow, causing a … [Read more...] about A Tale of Two Bubbles: How the Fed Crashed the Tech and the Housing Markets