Read my latest Bloomberg View column Costly City Housing Is an Economic Drag.
Here’s an excerpt…
It’s tough living in a big city — the people, the traffic, the noise. Oh, and did we mention the cost of housing? Contrary to conventional wisdom, high and rising housing costs in the U.S.’s biggest cities are not ideal for an economic recovery. Just the opposite: When housing costs take a big bite out of incomes, it diverts money that could be spent on local goods and services or invested in new businesses that stimulate growth…
My Bloomberg View Column Directory
My Bloomberg View RSS feed.
Tags: Harvard JCHS, U.S. Census, economic recovery, S&P/Case-Shiller 20-City index, tight credit, National Association of Realtors
Recent Comments on Matrix