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...work adding a chapter on real estate for the second edition. As part of that effort, he cobbled together an inflation-adjusted index of home prices going back to 1890, which showed that a) the price runup from 1997 to 2006 was by far the biggest on record and b) home prices can fall for decades. Put those two together, Shiller argues, and it's at least possible that we're due for an epic decline in prices. "People think that home prices go up a lot," he says. "But home prices in 1990 were at about the same level...
...KNOW HER AS the icy matriarch on TV's hit prime-time soap Falcon Crest, as Ronald Reagan's first wife and as mother of Maureen and Michael Reagan. Yet in the 1950s, the unpretentious Jane Wyman was one of Hollywood's most respected stars. She broke out of B movies in Billy Wilder's The Lost Weekend and went on to vibrant performances in such films as 1948's Johnny Belinda (her portrayal of a deaf and mute rape victim won her an Oscar) and Alfred Hitchcock's Stage Fright. She broke her long silence on Reagan after...
...Staff writer Victoria B. Kabak can be reached at vkabak@fas.harvard.edu...
Despite strong returns under El-Erian, HMC was not completely immune to this summer’s financial crisis—the endowment lost $350 million in July when Sowood Capital Management, a hedge fund founded by former HMC manager Jeffrey B. Larson, collapsed. But overall, HMC made gains of 0.4 percent that month...
...Staff writer Christian B. Flow can be reached at cflow@fas.harvard.edu...