Economics

Russia’s invasion of the Ukraine will be remembered as one of the great crimes of the 21st century. The ensuing humanitarian crisis has already caused more than two million refugees to flee their homeland.  read more »

“Canada will always be there to defend the right to peaceful protest” – Justin Trudeau, in a reference to protests in India…

Asked why he supported some protests, but was determined to crush the trucker convoy, Justin Trudeau answered without hesitation  read more »

This is a disease one should not underestimate, but let’s assume that the worst of the Covid-19 pandemic is past us, at least for now. The disease’s impact on economy, our way of life, the state of democracy and the world will resonate for years to come  read more »

Over a hundred years ago, Max Weber observed that countries in northern Europe tended to have a higher standard of living and generally more well-functioning societies than countries in other parts of Europe. He believed that the reason for the formers’ success lay in their Protestant work ethic.  read more »

The number of people working in downtown Portland dropped from more than 103,000 in mid-2019 to 13,000 in mid-2020, according to a State of the Economy report recently published by the Portland Business Alliance. The report doesn’t actually show numbers, but the chart below, which I took from the report, can be used to make pretty close estimates.  read more »

If there’s one location advantage for the heartland that’s become clear during the last several years, it’s the edge we enjoy over the coasts in housing affordability.  read more »

Has the California proposition changed fundamentally? And does it matter for real estate?

The answer to the first question is yes—the state had a net population decline in 2021, the first drop since it began annual counts more than a century ago.  read more »

Housing is rapidly becoming the key economic issue facing America's beleaguered middle class. Even as interest rates rise, rents are on a wild binge, up near 20 percent in the past year or more in some cities. Meanwhile, home prices have hit a high and appear to be climbing further still. Higher prices are emerging even in what have long been relative bargain communities in the southeast, as refugees from the high-priced Northeast pour in with their greater resources.  read more »

Perhaps nowhere is the gap between America’s cognitive elite and its populace larger than in their preferred urban forms. For nearly a century—interrupted only by the Depression and the Second World War—Americans have been heading further from the urban core, seeking affordable and safe communities with good schools, parks, and a generally more tranquil lifestyle.  read more »

Some metropolitan areas continue to have higher costs of living relative to the national average. The most important component is the extent to which higher housing costs contribute to these differences. Our Urban Reform Institute Standard of Living Index showed that more than 85% of the difference between costs in the more expensive metropolitan areas and the nation was attributable to housing (Figure 1).  read more »