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...data suggest we've largely come back to earth. The average price-rent ratio for the 54 metro areas Economy.com broke out was 19.8 for the three months through September, a couple of points higher than the 15-year average of 17.7 but significantly lower than where the ratio stood three years ago, 24.4. By doing some additional math (which we'll explain later), we can surmise that house prices still have to drop 4.6% over the next five years, assuming the price-rent ratio returns to normal over that period. Funny how that almost doesn't seem...
Mass moral breakdown seems a tidy, symmetrical response to a crisis driven by greedheads and gamblers who blew the bubble that carried us away and politicians who stood by and watched it burst. So now we stand in the rubble, surrounded by sharp questions. How sturdy are we, how suspicious, how brave, how bitter? What is it going to do to us, individually and collectively, when dread takes up residence next door, or right upstairs in the empty rooms we prowl around when we can't sleep because our debts and doubts are making too much noise? (See pictures...
Tuesday’s spectacle on Capitol Hill reminded us that politics, at its most basic level, boils down to questions of force: Roland W. Burris may call himself the junior senator from Illinois, but an armed man in uniform stood between the former Illinois attorney general and his seat in the Senate chamber. Yet given the circumstances surrounding Burris’ questionable appointment, Senate Democrats should be doing everything in their power to keep it that way. While Governor Rod R. Blagojevich may technically hold the executive power in Illinois for the time being, his decision to make...
...Coleman's first public appearance here since Election Day - when he asked Franken to refrain from taking the race to a recount but later apologized for the comment - Coleman stood in a room full of supporters in the State Office Building and declared, "While I understand there is a desire by a small number of people to simply move on, something greater than expediency is at stake here ... Sometimes [democracy] is messy and inconvenient, and reaching the best conclusion is never quick because speed is not the best directive - fairness is." When reporters mentioned the names of Senate majority leader...
...together a good 60 minutes of hockey, and it’s a little frustrating that we didn’t pull out the win,” senior goaltender Brittany Martin said. “To be honest, I think we outplayed them, but their goalie stood on her head and had a good game, and the pucks just didn’t drop our way.” The Tigers got all the offense they needed on a second-period goal from freshman Heather Landry. At the midpoint of the frame, Landry received the puck in the right...