Economics

Home ownership is finally increasing in the United States, following the housing bust. The Census Bureau reports that 63.9 percent of households owned their own homes in 2017. This represents the first annual home ownership increase in more than 10 years, as a string of losses followed the housing bust after 2006. The home ownership rate has continued to increase, and stood at 64.4 percent in the third quarter of 2018.  read more »

Life expectancy for Americans has fallen to an average of 78.6 years. This is a drop from the most recent estimates—indicating a downward trend that is virtually unheard of in Western countries.  read more »

It’s become common folklore that California is booming and incoming Governor Newsom and the Democratic supermajority have more taxpayer money than they will know how to spend, save, or invest. Nothing could be farther from the truth; and it’s the California voters and taxpayers who will continue to be pay for this mistake. We literally owe trillions that isn’t being discussed.  read more »

In 2004, President George W. Bush announced the aim of promoting a broader “Ownership Society,” in which more Americans could benefit from owning a home, retirement accounts, and other financial assets. “If you own something,” he declared, “you have a vital stake in the future of our country. The more ownership there is in America, the more vitality there is in America.” President Bush’s premise echoes ideas advanced by virtually all presidents since Franklin Roosevelt.  read more »

Two days after the mid-term elections, The Washington Post published an analysis under the headline “These wealthy neighborhoods delivered Democrats the House majority.” That headline is false in several different ways, but it is being repeated among a large group of the punditry because it fits into a class narrative that sees affluent, college-educated white people who live in suburbs as citadels of tolerant decency while white folks  read more »

Portland New Urbanist Joe Cortright has rarely seen a high-density development he didn’t like. Like Marxist economists who always begin their papers by referring to quotations from Karl Marx, Cortright takes his cues from Jane Jacobs.  read more »

Tulsa is joining the parade of places that are providing economic development incentives to people who are willing to relocate there. I previously mentioned Vermont’s program and also that of a Cincinnati suburb.  read more »

The rise of automation and artificial intelligence is keeping many Americans up at night, worrying about their jobs, and certainly those of their children. The World Bank predicts that 57 percent of all jobs in developed countries could be automated in the next two decades. Some studies suggest that almost half of all current jobs will be made redundant while others suggest that past technological innovation created enough new jobs to make for those lost.  read more »

Much of the US population of the United States is located in its major metropolitan areas, those with more than one million population. In 2017, the 53 major metropolitan areas had 56% of the population, and they attracted two-thirds of the population growth from 2000 (present geographical delineation). Economic research, such as by Remy Prud'homme and Chang-Woon Lee at the University of Paris as well as David Hartgen and M.  read more »

It turns out that tech oligarchs aren’t much better than old dogs at learning new tricks. By splitting his much coveted supposed second headquarters between New York City and greater Washington D.C., Amazon’s Jeff Bezos is repeating what worked for him in Seattle while saying “yes, sir” to power.  read more »