Word: goings
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...much about a small amount above or below," says Dean Baker, co-director of the Center for Economic and Policy Research, who has done his own analysis of price-to-rent ratios. "It's when you see large divergences that it matters." After all, there are other considerations that go into the decision to buy a house. When Choe bought last fall, he figured the air was still coming out of real estate, but his older son was about to start kindergarten, and he wanted to settle into the right school district. "My thinking was, It's not the bottom...
...Washington in the spring of 2004 and started renting. The cost of a house relative to a typical apartment rent had doubled in four years - you didn't have to be an economist to notice. That spread has narrowed substantially, but by Baker's calculations, there's more to go. Yet that didn't stop him from buying a couple of months ago. "We got an interest rate at the absolute bottom," he says, "and we wanted outdoor space...
...influences the math on how financially savvy it is to buy. The government mortgage agency Ginnie Mae has a rent-vs.-buy calculator on its website - using the default settings, buying starts to make sense after committing to stay for at least four years, although a lot of assumptions go into that calculation: everything from the property-tax rate to mortgage closing costs to the money spent on homeowner's insurance to the yearly home-price appreciation. If prices stay flat instead of going up 2% a year, it'll take nine years for buying to pay off. One thing...
...Blankfein, the criticism seems distorted. "Something that was a virtue now looks like a vice," he says. "I don't think we're going to go far in this country if we make it a bad thing for people to migrate from business into other activities like writing or philanthropy or public service." Goldman, he notes, has already paid back the $10 billion - plus $318 million in dividends and an additional $1.1 billion to buy back warrants (at above-market value, he adds) - that Paulson forced it to take last October from the $700 billion Troubled Asset Relief Program. Taxpayers...
...Treasury. "That's at the root of Lloyd." Steel recalls that Blankfein shared stories about life at Thomas Jefferson High School. "You survive by either one of two things," Steel says Blankfein told him. "You were either a great athlete or funny and entertaining, and I decided to go with funny and entertaining...