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Housing Boom: Good News, Bad News

Posted by: Abhijeet Chavan
Thanks to: Adam Christian
16 June 2005 - 8:00am

The housing boom is likely to last. That's the good news...and the bad news.

"Barring an unexpected jump in interest rates or a sudden drop in jobs, [an annual report put out yesterday by Harvard's Joint Center for Housing Studies] predicts that demand will continue to rise steadily, generating billions in wealth and pushing the economy forward. But the bad news contained in the report is that...millions of families [are] being priced out of the housing market--and, thanks to the demand for more high-priced homes, out of the rental market as well."

Full Story: Home Economics
Source: The New Republic, June 14, 2005
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Public transit has suffered from an economic mis-focus, and ironically enough, it has only worsened perennial problems like chronic underfunding and running incomplete systems that can't compete with the private automobile.
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