Skyrocketing Home Prices

“Who can afford to buy a house in this place?” my wife asked, when I read her the average prices of homes in various northern California communities. “We certainly can’t,” I said. Our home has more than doubled in value since we bought it...

Trade Deficit Demagoguery

I buy more from my grocer than he buys from me, and I bet it’s the same with you and your grocer. That means we have a trade deficit with our grocers. Does our perpetual grocer trade deficit portend doom? If we heeded some pundits and politicians who are talking...

Housing Bubbles

The blazing-hot topic at suburban cocktail parties this spring is whether there’s a bubble in the residential housing market. No wonder. In 2004, existing home prices rose faster than in any year since the 1970s. Some markets are going bonkers. Alexandria, Va.,...

Class in America: The New York Marxist

It looks like The New York Times thinks we’ve strayed too far from paying proper respects to the central tenets of Marxism. The whole ball game, as Karl Marx painted it, was nothing more than a class brawl between the rich and the poor. Or as Frederick Engels...

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