For the price of a one bedroom apartment in Geneva

Here's the story

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Nudge

Just finished reading the book and liked it a lot. Here's the website

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Housing Bubble in Geneva

I've been claiming that there's in housing bubble in Geneva and that price will fall (here and here) and I've been trying to do an econometric study but I've not been able to get data, but look at this for the US, doesn't it look like a Geneva story?

Dastrup and Carson look at how the magnitudes of the price declines correlate with a number of other community characteristics such as overbuilding (as measured by growth in building permits relative to the local labor force), extent of subprime lending, owner-occupied units, and fundamentals such as median income. Dastrup and Carson find that all of these measures were statistically significantly related to the magnitude of the housing price decline. But by far the most important variable was the magnitude of the previous price run-up, which all by itself can account for more than half of the observed variance in the size of the price decline across different communities.

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The are shutting down..

..The Blade (check out the purple shirts). Too bad, it was a great DC institution even for the straight readers (I was once reading a copy on park bench in Dupont, somebody sat next to me, but when he was what I was reading he moved away quickly)

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Back from China

Behind the great firewall there was no Blogger or Facebook. When I got got back, I read this great quote: Jesus probably didn't know much about macroeconomics, even though he was God.

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Heroes in unexpected places

Here

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