New NY Times Housing Bubble Blog
The NY Times has a new blog about housing. Called "A Walk Through."
This clip is from yesterday. Notice that the italicized sentence says a build up in inventory leads to excess demand when the Times meant excess supply. Jason Blair or Krugman must have written that sentence. In any event, welcome to the Housing Bubble Blog universe NY Times, I hope you have lots of coverage of the bubble in the local tri-state area.
snip...
"Many markets around the country are now moving into the phase that follows a run-up in prices, when a build-up in inventory leads to excess demand and then a drop in prices.
Over the next several months there will be many reports like these. To save time, here’s a round up of this week’s Hissing Sound."
More...
This clip is from yesterday. Notice that the italicized sentence says a build up in inventory leads to excess demand when the Times meant excess supply. Jason Blair or Krugman must have written that sentence. In any event, welcome to the Housing Bubble Blog universe NY Times, I hope you have lots of coverage of the bubble in the local tri-state area.
snip...
"Many markets around the country are now moving into the phase that follows a run-up in prices, when a build-up in inventory leads to excess demand and then a drop in prices.
Over the next several months there will be many reports like these. To save time, here’s a round up of this week’s Hissing Sound."
More...
posted by Little_Silvered at 9:16 AM
2 Comments:
Actually increases in supply can and do result in increased demend - but AFTER prices fall. This is a long run distinction as I'm sure you recall. Of course in the long run we're all dead. :)
I don't think Krugman was quoted. He would have said something like "when a build-up in inventory leads to excess supply and then a drop in prices, proving that the Bush Administration is incompetent."
BTW, the security code for anon postings is gone. Hope the spam bots don't figure this out.
Whether one likes Paul Krugman or not, his knowledge of supply and demand is sound.
I have an econ professor at George Mason University who is a self-professed anarchist/libertarian who uses one of Krugman's text in his labor economics class.
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