Word: economisters
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...Upper House of the Diet, Japan's parliament, from the LDP. The drubbing echoed a lesson that former U.S. President George H.W. Bush learned back in 1992 when he was booted from office. "It's the economy, stupid," says Richard Katz, the New York-based editor of the Oriental Economist Report. "Up until his very last day, Abe showed just how out of touch...
...feel bad: there are larger forces at work, after all. "House prices are falling back in line with economic fundamentals," says Economy.com housing economist Pat McPherron. Even granite countertops can't change that...
...will be added, double that of the first six months, according to real estate tracker Reis. In the short term, that gives renters the advantage, since their numbers aren't growing as fast as the apartment count is. "In some cases, vacancy rates are going up," says Reis chief economist Sam Chandan. Unless you're in a tight market like New York City or San Jose, Calif., you might be able to win a free month or other concessions...
...traditional bust, in which economic woes spread to housing. In San Diego, the housing decline seems to be a self-generated phenomenon, the product of too-high prices and too-crazy lending practices. Now the "housing market is dragging down the rest of the economy," says Alan Gin, an economist at the University of San Diego. The same is true in and around Los Angeles, San Francisco, Phoenix, Las Vegas, Miami, Washington, New York City and Tampa, Fla.--all metro areas where house prices skyrocketed until 2006 and have since fallen in the face of otherwise positive economic news. Nationally...
...leader who can engineer a miracle turnaround - something none of the well-worn LDP candidates seem capable of - the party could well be tossed out of government altogether. "Abe has thrown the LDP into a desperate state from which it will never recover," wrote Glenn Maguire, Asia Pacific Chief Economist at Societe Generale in Hong Kong, in a report today...