Housing and Recessions

Now that new home sales have reached a new cycle high (in June), I’d like to update a couple of graphs in a previous post (most of this from an earlier post). For the economy, what we should be focused on are single family starts and new home sales. As I noted in Investment and […]

Real Estate

A Typical African American Family Could Afford Just 25 Percent of Homes for Sale Last Year, Down from 39 Percent in 2012

Fewer than one in 10 homes for sale last year were affordable to African American households in San Francisco, Los Angeles, Seattle, Denver and Boston. Less than 1 percent of homes for sale (just 241 out of over 54,000) in San Francisco in 2018 were affordable to African American families. The affordability crisis is the […]


Randy Wray on modern monetary theory and tax

I have already mentioned a piece I had written for the Real World Economic Review on modern monetary theory and taxation recently. Now Randy Wray, one of the leading MMT thinkers has reviewed the price on New Economic Perspectives. I quote at length, as I think that’s fair in this case: [T]his issue of rwer contains what […]