Modeled Behavior highlights the gap between consumption and retail sales.
Stephen Roach has written on macroeconomics from a Wall Street perspective for years as head of the Morgan Stanley economics team. Lately he has focused exclusively on Asia. This book is a result of his in first-hand view the inner world of global macroeconomics.
Alan Greenspan’s “The Crisis”.
David Brooks in his Return of History piece reminds us of how economics failed to prevent the recent crisis. Either this gives economists a second chance to really explain how it all works, or we might begin to realize that markets adapt quickly to whatever policy invention we put into place.
Freddie Mac recently released their survey of house prices which is based on single-family repeat purchases (no refinances). House prices in the US showed a 6.7% drop from the 2Q08 to 2Q09. The Pacific region showed the largest decline, while the West South Central region showed little change.
There are several popular house price index sources: Freddie’s CMHPI (CMHPI Data – Freddie Mac), OFHEO’s HPI (Federal Housing Finance Agency – House Price Index), and S&P Case-Shiller’s Home Price Index ( S&P | Indices > Alternative Indices – S&P/Case-Shiller® Home Price Indices – Home Price Values).
Source: Freddie Mac