Communicating with Markets is Not Always Smooth
The Federal Reserve’s communication efforts before and after the Federal Open Market Committee (FOMC) meeting in mid-June made market watchers scratch their heads at times. They were struggling to...
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Foreign Homebuyers Coming to America, Part 1
Since 2007, the National Association of Realtors (NAR) has conducted a yearly survey measuring U.S. residential real estate sales to foreigners. For 2013, 3,357 respondents participated in the survey,...
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Coming to America: Overseas Buyers, Part 2
This is part two of a two-post series based on the National Association of Realtors (NAR) 2013 survey of foreign buyers of U.S. homes. Approximately 54 percent of U.S. home sales to international...
View ArticleRapid Growth or Stagnation? What Top Economists Say
Recently I attended the American Economic Association’s annual meeting in Philadelphia. Economists from all over the world and representing many disciplines attended. One panel discussed the lackluster...
View Article2014 Real Estate Outlook
So far this year, the housing market has been hampered by negative factors such as weather, higher mortgage rates and prices, shortage of properties for sale and tight lending practices. Even so, the...
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International Home-Buying Activity in 2014 (Part 1 of 2)
It’s time for the annual National Association of Realtors’ (NAR) survey measuring the level of sales of U.S. residential real estate to foreigners. There were 3,547 respondents to the 2014 survey,...
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International Buyers of U.S. Homes in 2014 (Part 2 of 2)
Here’s the second post of my two-part series based on the National Association of Realtors (NAR) 2014 survey of foreign buyers of U.S. homes. What Price Homes Do They Buy? Approximately 46 percent of...
View ArticlePolicy Planning for the Next Financial Crisis
Dramatic growth in household debt preceded both the Great Depression and the Great Recession. Both episodes also were characterized by large, persistent declines in consumption. During the crises,...
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Why Hasn’t Full-time Employment Recovered?
Since the end of the Great Recession in June 2009, the number of full-time employed in the United States is 2.2 million below its 2007 pre-recession peak (Figure 1). Although, the number of individuals...
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Signs, Signs, Everywhere Are Signs
Besides the fall in oil prices to approximately $50 dollars a barrel, other signs point to a decline in the Texas oil industry. Recently published employment figures show the number of persons employed...
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