Word: cheapness
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Shortly after the turn of the century, though, the housing boom began to spin out of control. As incomes and employment in Ireland rose, cheap credit and tax incentives fueled a buying frenzy that pushed up both prices and housing stock: the cost of an average house rose almost three-fold in the decade through 2006, while some 40% of the country's housing was built in the last decade, according to Brian Devine, an economist at Dublin-based stockbrokers NCB. At the Grange, a swish 11-acre (4.5 ha) development in Dublin, realtors sold 15 luxury apartments a week...
...sustainability come together as they do in Portland-based rock band Red Fang’s “Prehistoric Dog.” Forget about the title of the song—the real message of the video is as follows. Drink. Drink lots of beer. Drink awful, cheap beer (e.g., Pabst Blue Ribbon, Tecate, Kokanee). Drink it with your scruffy friends. Drink it until you vomit. Rock out while you do so. When you’ve had enough beer, hit the nearest metal shop. Now take all your empty cans and weld them together into weapons...
...necessarily irrational. They mimic the mind-set of investors who are cycling between greed and fear as they try to assess whether financial stability is returning, and whether the market has reached bottom after a long and costly plunge. Investors are trying to judge whether stocks have indeed become cheap, as some gurus including Warren Buffett have recently argued...
Much of the growth was financed by cheap money, as Swedish and Finnish banks competed for customers in Europe's fastest growing region. Entrepreneur Lepik recalls firing off an e-mail loan application in 2006 with a "very basic" business plan, and getting approval in less than a week. Private debt across the Baltics rose from nearly zero to Western levels as consumers became hooked on credit. Home buyers and businesses took out mortgages in foreign currencies, which had the effect of worsening already severe current-account deficits. In a peculiarly Estonian twist, companies in the tech-savvy country began...
...like James Cromwell and Ellen DeGeneres as evidence. The opponents ran ads (funded by the nation’s largest agribusinesses) in which salt-of-the-earth farmers reminded blue collar workers that in lean economic times, they couldn’t afford to jeopardize their right to a cheap dozen pack of eggs...