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...The PBoC “wanted to show that they had done their best even though the program wouldn’t work in practice”, said a former official with the central bank....
...However, the housing market has been slow to reflect the rising risk....
...In recent funding events, healthy banks have used advances or other Fed liquidity programs and avoided the Fed’s primary credit program....
...Millennials cluster in natural playgrounds like Salt Lake City and Denver, culturally vibrant smaller cities like Portland, and affordable second-tier cities like Milwaukee and Sacramento....
...What used to be a two-lane highway is now a freeway with a constant, noisy stream of commuters doing their best to get somewhere with more somewhereness than these housing tracts....
...Context: Italy’s ambitious €200bn recovery program is key for its financial health, to meet deficit targets, raise its GDP growth potential and relieve its heavy debt burden....
...Chicago Fed president Austan Goolsbee yesterday said the “biggest danger” was housing inflation that does not fall, as it is widely expected to....
...We believe the policy priority is to manage the multi-year slowdown rather than to engineer an upcycle, and do not expect a repeat of the 2015-18 cash-backed shantytown renovation program....
...— China launches a pilot program to support private-sector property investment. Plus Michael Pettis’s thoughts....
...Like the Transaction Account Guarantee (TAG) program that was implemented 2008, such an unlimited insurance program would stop the deposit run. But it would be challenging....
...Buyers began to drop out of the housing market....
...Robert Armstrong A very good leading indicator is usually housing starts or housing permits....
...The Association of American College and University Programs in Italy counts more than 35,000 students all over the country....
...And then there was a period where governments were throwing a lot of cash at consumers to . . . in stimulus programs....
...It is common to blame the Fed’s bond-buying programs for the distortions....
...Barclays analysts already expected office-building valuations to decline by 30 per cent over the next few years, according to a late February note, along with 20-per-cent declines in multifamily housing...
...To be fair, rents for affordable housing in the US (properties that fall under the Low-Income Housing Tax Credit program) are federally regulated, so Blackstone has less discretion here....
...And again, it goes to the question about nutrient neutrality and additional housing earlier. Increasing the supply of housing is the only thing that we need to do in order to improve affordability....
...Christopher Martin: A large scale and sustained program of public investment....
...No one made a really great case for let’s do a Keynesian investment program. Let’s build some of the stuff....
...The Fed’s liquidity provisions — chiefly its new, generous Bank Term Funding Program and renewed uptake of the discount window — are doing their job....
...Anders Sandberg What about disassembling all the planets in the solar system to build a giant computer and housing quadrillions and quadrillions of uploaded minds? Madhumita Murgia OK....
...holds the future (Foreign Affairs) — The power of folk ideas in economic policy and the central bank–commercial bank analogy (New Political Economy) — We’re wildly underestimating the potential of mobile housing...
...So some banks have already had in place quite large buyout programs in place. Others are raising the dividend policies....
...— Where exactly did SME Payment Protection Program cash go? — The inflation checkers — In there a housing shortage or not?...
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