Word: zelman
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Beyond the state of the economy, the problem is that in many markets, houses still cost too much. Housing consultancy Zelman & Associates compared what houses cost with how much people earn and found plenty of markets - including Seattle; Miami; Norfolk, Va.; Philadelphia; Los Angeles; and Salt Lake City - where homes would have to shed at least 30% more in value to get back to being as affordable as they have been historically...
...economists agree that housing is so overvalued, and some markets in the Zelman analysis come up as underpriced (Indianapolis and Dallas, among them). But in a way, that doesn't matter. "In a lot of places, I think, housing is fairly valued, but we overshot on the way up, and it's very likely we'll undershoot quite a bit on the way down," says Patrick Newport, an economist at the analytics shop IHS Global Insight. His firm's forecast is for another 10% to 15% drop in NAR's median sales price before things start turning around next year...
...school choice” is increasingly popular with minority parents otherwise unable to escape decrepit government schools in Cleveland, Detroit and other large cities. While the 14 years since Milwaukee first attempted a voucher system have seen such milestones as the Supreme Court’s 2002 ruling in Zelman v. Simmons-Harris, which stated that vouchers could be used at religious schools, and this year’s federal government program to provide vouchers to students in failing D.C. schools, there has really been more heat than light. Though there are less than 50,000 students currently receiving them...
...Accompanying the Rehnquist story was an item about the 2002 school-voucher decision, Zelman v. Simmons-Harris. We said the court's ruling held that "a government program does not obstruct freedom of religion if aid goes directly to the student or parent, who then chooses a school." The issue involved was whether the voucher program violated the First Amendment's Establishment Clause, the guarantee that the government will not establish a religion but will maintain the separation of church and state...
...initiatives, but broadly considered, the ruling brings to the table educational options once stigmatized as unconstitutional. That means greater discussion of other so-called choice-based reforms, like charter schools, inter-district public school choice and tax credits—proposals formerly marginalized for lack of political will. Thus, Zelman has rescued school choice from the depths of think tank research and pushed it to the forefront of public life...