Middle Class

The person who caused the current world recession can be found not on Wall Street or the city of London, but instead could be you, and your next-door neighbor--the people who put so much of their savings and credit to buy a house.

Increasingly, conventional wisdom places the fundamental blame for the worldwide downturn on people's desire--particularly in places like the U.K., the U.S. and Spain--to own their own home. Acceptance of the long-term serfdom of renting, the logic increasingly goes, could help restore order and the rightful balance of nature.  read more »

Much has been made by the national media and the markets about the emergence from our desiccated economic soil of what President Obama has called "green shoots." But although the economy may already be slowly regenerating (largely due to its natural resiliency), we need to question whether these fledglings will grow into healthy plants or a crop of crabgrass.

The political right has made many negative assessments of the president's approach, decrying the administration's huge jump in deficit spending and penchant for ever more expansive regulatory control of the economy. Polling data by both The New York Times and the Wall Street Journal shows some growing unease about both the expanding federal role in the economy and the growing mountain of debt.  read more »

The Economist magazine's "Economic Intelligence Unit" (EIU) has published its most recent survey of the most livable cities in the world.

Vancouver, Canada, ranks number one, Vienna, Austria number two, Perth, Australia number five, Geneva number 8, Zurich, number 9, (both in Switzerland) and Auckland, New Zealand, number twelve.  read more »

Most readers may not be initially very interested in the detailed geography of “class” in Seattle, but it actually matters not only for our area but for the whole debate over the shape of the urban future. Academics, perhaps Americans in general, are loath to admit to class differences, yet they remain very crucial to the understanding of how cities and regions evolve.

Seattle is a great example of the transformation of a 20th century model of the American metropolis to a 21st century-cum-19th century “old World” model of metropolis. It is often held up as one of the role models for other cities, so its experiences should be considered seriously not only for American cities but for regions throughout the advanced world.  read more »

During the first ten days of October 2008, the Dow Jones dropped 2,399.47 points, losing 22.11% of its value and trillions of investor equity. The Federal Government pushed a $700 billion bail-out through Congress to rescue the beleaguered financial institutions. The collapse of the financial system in the fall of 2008 was likened to an earthquake. In reality, what happened was more like a shift of tectonic plates.

History will record that the tectonic plates of our financial world began to drift apart in the fall of 2008. The scale of this change may be most evident in housing.

PART TWO – THE HOME BUILDERS  read more »

Nobel Prize-winning economist Paul Krugman was quoted widely for saying that the official recession will end this summer. Before you get overly excited, keep in mind that the recession he’s calling the end of started officially in December 2007. Now ask yourself this: when did you notice that the economy was in recession? Six months after it started? One year?  read more »

LONDON - The thrashing of Britain's New Labour Party – which came in a weak third in local and European Parliament elections this week – may seem a minor event compared to Barack Obama's triumphal overseas tour. Yet in many ways the humiliation of New Labour should send some potential warning shots across the bow of the good ship Obama.  read more »

By Nima Sanandaji and Robert Gidehag

Sweden is a nation with extraordinary high tax rates. The average worker not only pays 30 percent of her or his income in visible taxes, but, additionally, close to 30 percent in hidden taxes. The defenders of the punishing tax burden argue that it is needed to maintain Sweden’s generous welfare system. While this claim may seem reasonable on its surface, a deeper look suggests that it is based on flawed analysis.  read more »

The sustainable city of the future will rest on the revival of traditional institutions that have faded in many of today’s cities.

Ellen Moncure and Joe Wong first met in school and then fell in love while living in the same dorm at the College of William and Mary. After graduation, they got married and, in 1999, moved to Washington, D.C., where they worked amid a large community of single and childless people.  read more »

I always do my best to make time for Lenny Mills because he’s earned that sort of consideration.

Mills is the fellow who wrote several pieces under the banner of his trademark “7 Rules” outline, where he applies the tricks he learned as a telemarketer to analyses of real estate development, politics, and other matters.  read more »