House Prices and Inventory

Watching existing home “for sale” inventory is very helpful. As an example, the increase in inventory in late 2005 helped me call the top for housing. And the decrease in inventory eventually helped me correctly call the bottom for house prices in early 2012, see: The Housing Bottom is Here. And in 2015, it appeared […]


There’s no surprise that the Institute of Economic Affairs wants the UK to be a tax haven: it fits with their agenda of destroying fair markets

I could not help but be amused by this juxtaposition in The Times this morning: I presume KPMG did not ask to be associated with this feature from Mark Littlewood of the Institute of Economic Affairs, but as the biggest tax havens operator amongst the Big 4 accountants I doubt they object. Littlewood is spouting […]


Tackling the housing crisis

I have just noticed that a letter I was a signatory to was published in The Observer yesterday: Tackling the housing crisis Polly Neate is right that “social housing and homes for first-time buyers don’t have to be either/or”.(“Britain has a housing crisis: First Homes is just a comfort blanket”, Comment) They do have to be […]


We could take action now to deliver climate change accounting

There is a damning indictment of the International Financial Reporting Standards Foundation this morning in the FT. Discussing the need to address climate change reporting, George Serafeim, who is Charles M Williams professor of Company administration at Harvard Company School, said: The environmental and social challenges we face require immediate action. An overhaul of accounting standards, […]


There is no point in further fiscal rules when the only objective we should have is full employment at low inflation

The financial media is moving into pre-budget comment mode this morning. According to the FT: Rishi Sunak will have to raise taxes, bend his fiscal rules or do both if he wants to meet public expectations of an end to austerity, according to a report by the Resolution Foundation. The think-tank said the chancellor would […]