Day

January 27, 2009

Reviving "Animal Spirits"

Less Trust = Simpler Financial System “The more complex the transaction, the more trust is needed to sustain the transaction.” –Robert Shiller, “Animal Spirits Depend on Trust“; The Wall Street Journal (1/27/2009) Robert Shiller, the Yale economist who made his name calling the 2000 Stock Market Bubble, has an excellent piece in Tuesday’s Wall Street...
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Home Buyer Incentives Multiply

“$5,000 here, $10,000 there”To paraphrase a *famous quote, “$5,000 here, $10,000 there, and pretty soon you’re talking about real money.” In this case, the money consists of incentives offered to first-time home Buyers. New home builders have been offering Buyer incentives for quite some time (upgraded finishes, discounted loans, plasma TVs, etc.). However, now government...
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Nov. – Dec. Housing Statistics

Foreclosures Explain Latest Housing Price DropThe most recent batch of housing statistics — from S&P/Case-Shiller and NAR — show that housing prices are continuing to fall nationally. Depending on how you slice and dice the market (sale pairs, top 20 markets vs. all markets, all homes vs. those under $417k, etc.), the year-over-year annual decline...
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