Vancouver is consistently rated among the most desirable places to live in the Economist’s annual ranking of cities. In fact, this year it topped the list. Of course, it also topped another list. Vancouver was ranked as the city with the most unaffordable housing in the English speaking world by Demographia’s annual survey. According to the survey criteria, housing prices in an affordable market should have an “median multiple” of no higher than 3.0 (meaning that median housing price should cost no more than 3 times the median annual gross household income). Vancouver came in at a staggering 9.3. The second most expensive major Canadian city, Toronto, has an index of only 5.2. Even legendarily unaffordable London and New York were significantly lower, coming in at 7.1 and 7.0 respectively. While there are many factors that make Vancouver a naturally expensive market, there are a number of land use regulations that contribute to the high housing costs. read more »
Sarah Palin has emerged as the right's sweetheart, a cross between a pin-up girl and Joan of Arc. For some activists, like the American Thinker's Lloyd Marcus, she's "my awesome conservative sister" who the mainstream media wants to "destroy at any cost."
On a more serious note, leading right-wing pundit Roger Simon argues Palin's is now the biggest name in Republicandom, which he admits is not too great an accomplishment. Armed with "something more than intellect," he praises her unique ability to "connect with the base." He also believes, citing some polls for 2012, that she could run a close race against President Obama. read more »
Californians value cool. I’m not sure how this came to be. It might be the weather. It might be the entertainment industry. Whatever the reason, Californians don’t get excited. Better to go with flow than to get excited. Things will be ok. Concerned about the economy? Stay cool Dude. It’ll come back. Always has. Always will. Relax.
It’s not cool to get excited, or heaven forbid, panic. Californians are not quick to react to problems, so confident that eventually the problem will just go away. read more »
In looking for winners in the war in Iraq, a good place to start is the Damascus real estate market, which went from being a subprime, Axis-Of-Evil neighborhood to one where Iraqis with flight capital could stash their money.
I had not connected the cost of a Syrian two-bedroom with those Iraqis who are losing hearts, minds, and subsidiaries, until I traveled with my teenaged son on the Ottoman and Crusader roads from Istanbul to Damascus… and heard of apartments selling for $2 million. read more »
As the country’s political distemper grows, many commentators, reflecting their own generational biases, mistakenly assume that voters are looking for less government as the solution to the nation’s ills. But survey research data from Washington think tank, NDN, shows that a majority of Americans (54%), and particularly the country’s youngest generation, Millennials, born 1982-2003, (58%), actually favor a more active government, rather than one that “stays out of society and the economy.” read more »
By Richard Reep
“There is a great deal of historical evidence to suggest that a society which loses its identity with posterity and which loses its positive image of the future loses also its capacity to deal with present problems, and soon falls apart.”
--Kenneth Boulding, economist and philosopher (1966)
Written in the depths of the Cold War, when nuclear annihilation appeared imminent, if not inevitable to some, Boulding’s words remain applicable to today’s popular culture. Increasingly unable to imagine a positive future since the 1990s, we have largely replaced the end of the nuclear threat with the beginning of global warming, among other environmental threats. Others have raised the spectre of Chinese global domination or a prolonged and destructive jihad from the Islamic world. read more »
California has long been a destination for those seeking a better place to live. For most of its history, the state enacted sensible policies that created one of the wealthiest and most innovative economies in human history. California realized the American dream but better, fostering a huge middle class that, for the most part, owned their homes, sent their kids to public schools, and found meaningful work connected to the state’s amazingly diverse, innovative economy. read more »
Once a country known as “lucky” for its affordable quality of life, Australia has achieved legendary status as a place where public policies have destroyed housing affordability for the middle class. Draconian land rationing policies (called "urban consolidation" in Australia and more generally "compact city" policy or "smart growth"), have made it virtually illegal to build houses outside tightly drawn urban growth boundaries that leave virtually no room for new construction beyond the urban fringe. read more »
Nearly a century and half since the United States last divided, a new "irrepressible conflict" is brewing between the states. It revolves around the expansion of federal power at the expense of state and local prerogatives. It also reflects a growing economic divide, arguably more important than the much discussed ideological one, between very different regional economies. read more »
Only Tribes held together by a group feeling can survive in a desert.
--Ibn Khaldun, 14th century Arab historian
Time to chuck into the dustbin the cosmopolitan notions so celebrated at global conferences: a world run by wise men of the United Nations, science-driven socialists or their ostensibly more pragmatic twins, global free marketers. We are leaving the age of abstractions and entering one dominated by deep-seated ethnic, religious and cultural loyalties, some with roots from centuries and millennia ago. read more »