The King Has No Clothes Currency “Bitcoin mania reached new highs as the price of the digital currency jumped about 40% in about 40 hours, surging past the $16,000 mark.” —The Wall Street Journal (Dec. 8, 2017). Why is gold valuable? Mostly, because you can buy things with it, and only (very) secondarily, because you...Read More
“YIMBY” sounds like it’s an updated version of “Yippie,” the ’60’s counter-cultural movement. In fact, it’s the (inevitable?) backlash to NIMBY, short for “Not in My Backyard” (replace the “N” with a “Y” for “Yes”). YIMBY’s proponents argue that stratospheric Bay Area housing prices are ultimately explained by too little supply, thanks to politics. Ergo,...Read More
Waiting for Supply to Catch Up to Demand According to Pat Hamill, chief executive of Oakwood Homes, it will likely take several more years before builders have the capacity to fully meet demand. “We lost a lot of builders, lost of a lot of trade contractors. We lost a lot of people to other industries,”...Read More
