Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Wednesday, October 17, 2012
Here's what's been happening to the M2 money supply times the Velocity of money divided by the number of adults in the population.
The blue line is CPI-U. Available money has grown 3x inflation. That's why assets and commodities have exploded. Beating inflation doesn't cut it when you can be outbid 3:1 by cheap credit. And let us not fool ourselves into thinking access to that explosion in credit is distributed anywhere close to evenly.