By Christopher Matthews – Housing and jobs: these are the two keys to the economic recovery really taking off, and while we’ve gotten some positive news on the jobs front recently, real estate prices have more or less continued to decline steadily since their peak in 2007. Housing represents a huge portion of yearly GDP, but more than that it is most consumers main source of wealth. If home prices are rising, so are American’s net worth, and increased wealth will usually lead to increased confidence and spending.
The mechanics of the housing bubble: According Barry Ritholtz, after bubbles pop they usually fall a long way:
“Regardless of the asset class — stocks, bonds, commodities, houses, etc. — assets do not merely stabilize. We have never seen a stock market run up into bubble territory and then revert to fair value. Instead, we careen wildly past that level, to deeply undersold and exceedingly cheap.”
By Andy Greenberg – While the Internet has been bristling with anger over the Cyber Intelligence Sharing and Protection Act, the Internet industry has been either silent or quietly supportive of the controversial bill. With one exception.
CONGRESS WATCH H.R. 538, Government Customer Service Improvement Act H.R. 1818, Mt. Andrea Lawrence Designation Act of 2011 H.R. 2668, an act to designate the station of the United States Border Patrol located at 2136 South Naco Highway in Bisbee, … Continue reading →