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‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

fullstackeconomics.com

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Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#71

Post by Kiro »

mannerheim wrote: post #54
alasdair_ wrote: post #50

Earlier quoted context omitted.

To be fair, it's still a yearly prize, for economics, awarded by the same Nobel Foundation that awards the other prizes, under the same rules as the other prizes. The laureates are announced at the same time as the other laureates, the awards are presented in the same manner as the others and everyone shows up to the same Nobel Prize Awards Ceremony. And if we really want to go full pedant, the award isn't called any…

'Sveriges Riksbank Prize in Memory of Alfred Nobel' is more or less a literal translation of the Swedish name, minus the part about 'in economic science' and whether or not you feel like translating the name of the Swedish royal bank. Anyway, even the Nobel Foundation explicitly says it isn't a Nobel Prize: > Not a Nobel Prize > The prize in economic sciences is not a Nobel Prize. https://www.nobelprize.org/nominatio…

You were still wrong about the name.

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#72

Post by dmurray »

rozenmd wrote: post #13
LinAGKar wrote: post #11

Earlier quoted context omitted.

Probably because it's mostly desert

It is, and yet we still only really live in three cities (150km in length along a 26000km long coastline)

Three cities (presumably Sydney/Melbourne/Brisbane) is a weird way to describe Australia's population distribution. Perth is basically the same size as Brisbane. "We still only really live in two/four/five cities" all would be more accurate.

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#73

Post by logifail »

prox wrote: post #45
throwawaycities wrote: post #38

There is no doubt that the entire housing market was exploited to float the US economy and covered up a recession dating from 2000-2001 until the housing market could no longer be sustained resulting in a complete collapse of the financial markets and banking. The housing market didn’t “snap back” rather two unprecedented tax payer stimulus packages totaling just shy of $2T were given to the banks to finance millions…

One my pet peeves is that better ventilation legislation has been blocked and for that 7T you could probably upgrade every ventilation system in existence. According to a NYT article the average vent system is 4 on a scale to ten. In a pandemic you want something like an 8. This would seriously hamper COVID / airborne viruses.

> better ventilation legislation

Why worry about ventilation and masking - particularly in schools - when one could spend that time looking at data showing who is actually at risk, and how to protect them.

Spoiler: for this pandemic at least, the risk group simply isn't healthy children. Or indeed healthy young adults. Or maybe even anyone healthy under say 45[0]

Our 8 year old had a PCR-confirmed Covid infection three weeks ago, as far as we know that's the first case in our immediate family. He's not vaccinated.

For him, it represented a four-hour headache. No fever, no sore throat, no cough. He's finally been allowed to go back to school this week.

[0] https://www.euromomo.eu/graphs-and-maps

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#75

Post by sofixa »

logifail wrote: post #73
prox wrote: post #45

Earlier quoted context omitted.

One my pet peeves is that better ventilation legislation has been blocked and for that 7T you could probably upgrade every ventilation system in existence. According to a NYT article the average vent system is 4 on a scale to ten. In a pandemic you want something like an 8. This would seriously hamper COVID / airborne viruses.

> better ventilation legislation Why worry about ventilation and masking - particularly in schools - when one could spend that time looking at data showing who is actually at risk, and how to protect them. Spoiler: for this pandemic at least, the risk group simply isn't healthy children. Or indeed healthy young adults. Or maybe even anyone healthy under say 45[0] Our 8 year old had a PCR-confirmed Covid infection thr…

What about the teachers and all other staff at the school? Or everyone those children will run into, like parents, siblings, grandparents, friends, etc.? Even if the majority of them are healthy and under 45, some won't be and would require hospital treatment. And that's a severely limiting factor on how much Covid a health system can bare - in many countries that was stretched to and beyond it's limits. Now thankfully the latest variants are much more benign so that's not really a serious risk, for now.

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#76

Post by heavenlyblue »

logifail wrote: post #73
prox wrote: post #45

Earlier quoted context omitted.

One my pet peeves is that better ventilation legislation has been blocked and for that 7T you could probably upgrade every ventilation system in existence. According to a NYT article the average vent system is 4 on a scale to ten. In a pandemic you want something like an 8. This would seriously hamper COVID / airborne viruses.

> better ventilation legislation Why worry about ventilation and masking - particularly in schools - when one could spend that time looking at data showing who is actually at risk, and how to protect them. Spoiler: for this pandemic at least, the risk group simply isn't healthy children. Or indeed healthy young adults. Or maybe even anyone healthy under say 45[0] Our 8 year old had a PCR-confirmed Covid infection thr…

Anecdotally I am a 30 year old male who is usually only ill for about a day or 2 every year. I had COVID for a couple of days and then a week later after recovery a started getting this super-dry cough. This stayed with me for 2 months, first of which was so bad I could barely sleep until I got a codeine-based cough syrup.

On the other hand I was also considering what our politicians did to the society keeping them locked up in their rooms and not training their immune systems on a regular basis which usually happens with normal interaction.

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#77

Post by sofixa »

alasdair_ wrote: post #47
ta2234234242 wrote: post #22

Earlier quoted context omitted.

When you win a nobel prize in economics, I will listen to you more.

> When you win a nobel prize in economics, I will listen to you more. Henry Kissinger won the Nobel peace prize. Sometimes they get it wrong.

So did Obama for withdrawing troops from Iraq and sending them to Afghanistan. Sometimes they get it really wrong.

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#78

Post by RandomLensman »

throwawaycities wrote: post #38

There is no doubt that the entire housing market was exploited to float the US economy and covered up a recession dating from 2000-2001 until the housing market could no longer be sustained resulting in a complete collapse of the financial markets and banking. The housing market didn’t “snap back” rather two unprecedented tax payer stimulus packages totaling just shy of $2T were given to the banks to finance millions…

To some extent we actually have the counterfactual to the US, i.e. not bailing out the banks broadly in Europe. There recovery was slower, banks did do less funding of "real economies" in the aftermath, the bailouts did come with net costs overall and the banks are still not so competitive.

Re: ‘Housing in ‘07 wasn’t a bubble” is a true statement that almost no one believes

#79

Post by JumpCrisscross »

throwawaycities wrote: post #38

There is no doubt that the entire housing market was exploited to float the US economy and covered up a recession dating from 2000-2001 until the housing market could no longer be sustained resulting in a complete collapse of the financial markets and banking. The housing market didn’t “snap back” rather two unprecedented tax payer stimulus packages totaling just shy of $2T were given to the banks to finance millions…

This is a broad diatribe against monetary base expansion. The counterfactual for which, post crisis, we have in Europe. (And Depression-era America.)
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