petej + bubble   155

Tim Harford — Article — Why a house-price bubble means trouble
"It would be nice to report that buyers and sellers are paragons of rationality, and the housing market itself a well-oiled machine that makes a sterling contribution to the working of the broader economy. None of that is true. House buyers are delusional, the housing market is broken and a housing boom is the economic equivalent of a tapeworm infection."

"Back then, paying off your mortgage was a sprint: a few years during which prices and wages were increasing in double digits, while you struggled with mortgage rates of 10 per cent and more. After five years of that, inflation had eroded the value of the debt and mortgage repayments shrank dramatically in real terms.

Today, a mortgage is a marathon. Interest rates are low, so repayments seem affordable. Yet with inflation low and wages stagnant, they’ll never become more affordable. Low inflation means that a 30-year mortgage really is a 30-year mortgage rather than five years of hell followed by an extended payment holiday."
UK  economy  housing  property  crisis  bubble  economics  prices  inflation  debt  affordability  interestRates  dctagged  dc:creator=HarfordTim 
april 2015 by petej
My wish for 2015: a machine to judge political claims against reality | Comment is free | The Guardian
"The third thing I would simulate is a massive programme of social housebuilding in Britain. Everybody talks about this but nobody does it: our current system is geared to building high-rise apartments for the Russian mafia and rich footballers to speculate on. I have a hunch that, if you built 200,000 publicly owned dwellings a year, as we did in the mid-1950s, it would permanently burst the UK property mania. It would force British consumers to stop expecting asset price bubbles and – with cheap rents – free up a bigger chunk of wages to be spent on something productive."
economics  Europe  models  simulation  Greece  finance  debt  crisis  austerity  UK  housing  construction  property  bubble  dctagged  dc:creator=MasonPaul  building 
january 2015 by petej
Why big data evangelists should be sent to re-education camps | ZDNet
"There's now an intense scrutiny of the actions and habits of employees and potential employees, in the hope that statistical analysis will reveal those who have desired workplace traits"
bigData  surveillance  employment  employers  recruitment  algorithms  predictions  analytics  privacy  personalData  businessModels  bubble 
september 2014 by petej
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