tag:blogger.com,1999:blog-1110014885778996459.post8896256592850680440..comments2024-03-28T04:16:11.729-07:00Comments on Idiosyncratic Whisk: We don't need a wall. The solution to too many immigrants will include more immigrants.Kevin Erdmannhttp://www.blogger.com/profile/07431566729667544886noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1110014885778996459.post-20205444520097151972016-12-06T12:41:04.619-07:002016-12-06T12:41:04.619-07:00No problem. It's a big story, and understanda...No problem. It's a big story, and understandably difficult to step in in the middle. My thesis is that there was never an oversupply of homes. A localized lack of supply was the main cause of the "bubble" and we responded, nationally by instituting monetary tightening that first made the supply problem even worse and eventually caused the Great Recession. Then, the Federal government basically took over the mortgage market and cut off credit to the bottom half of the market. It was this policy choice which imposed most of the destruction in the housing markets. Homes - especially those in areas with lower incomes - lost an agonizing amount of their value in late 2008, 2009, and 2010. This wasn't a market response. This was the federal government taking regulatory and controlling actions through the CFPB and the GSEs to stop lending to households who had received mortgages for decades. This killed the housing market at the bottom end.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-18214123295323528452016-12-06T11:35:26.802-07:002016-12-06T11:35:26.802-07:00Forgive me for being obtuse, but I'm not sure ...Forgive me for being obtuse, but I'm not sure what you mean by "salting the fields". OK, mortgages and home-building collapsed in Columbus et al. What do we need to stop doing to reverse that?JustRusshttps://www.blogger.com/profile/17545471808820540459noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-85183032705333008142016-11-21T21:48:29.669-07:002016-11-21T21:48:29.669-07:00My figures here are based on IRS adjusted gross in...My figures here are based on IRS adjusted gross income, which would be lower than GDP.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-48087985205792582982016-11-21T20:33:41.302-07:002016-11-21T20:33:41.302-07:00Wait, how does that work?
GDP/capita in America...Wait, how does that work? <br /><br />GDP/capita in America is $53,000. <br /><br />Median household income is about the same. <br /><br />And yet, per-capita income in NYC is $41,000? Anonymoushttps://www.blogger.com/profile/16655062802402907887noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-10702825636021182982016-11-21T13:14:07.939-07:002016-11-21T13:14:07.939-07:00This is definitely a partial view. This is only b...This is definitely a partial view. This is only based on tax returns.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-13442918825111175792016-11-21T13:13:22.473-07:002016-11-21T13:13:22.473-07:00Maybe parts 76 and 80 would be a good start. On t...Maybe parts 76 and 80 would be a good start. On the blog I've taken a sort of a stream of consciousness approach, so I'm not sure there is a single post or two that encapsulates the idea. But those might help.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-26229016675459629512016-11-21T08:49:57.689-07:002016-11-21T08:49:57.689-07:00Another good post. I wonder if illegal immigration...Another good post. I wonder if illegal immigration statistics are reliable.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-4058795171398800322016-11-21T06:20:29.378-07:002016-11-21T06:20:29.378-07:00New reader here- Is there a good post for understa...New reader here- Is there a good post for understanding the Closed Access/Contagion/Open Access framework you use in this post?Anonymoushttps://www.blogger.com/profile/13145430320421325490noreply@blogger.com