In the fall of 2007, when the U.S. economy first seemed in peril, I began answering reader queries here on the Business Desk. I still do so, but this page has expanded to include posts from eminent economists, "far-flung correspondents," and a variety of voices that have intriguing and/or useful things to say about economics, broadly defined. Please feel encouraged to respond to any and all of them.
The Case-Shiller index is out this morning, and housing prices continued to rise last month. Except perhaps for those shopping for homes, this is unambiguously good news. The more housing wealth, the greater the "wealth effect": the propensity to spend. The greater the spending, the less unemployment. The wheel then turns. Maybe we're heading for a Titanic iceberg, as some of my friends predict. Maybe the fiscal cliff bodes ill. But for those who think we can hang in there and muddle through, good news.
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Use the box at top to choose your view: quarterly percent change, yearly percent change, monthly index value.
Prices not adjusted for inflation.
Interactives by Justin Myers.
As usual, look for a second post early this afternoon. But please don't blame us if events or technology make that impossible. Meanwhile, let it be known that this entry is cross-posted on the Rundown- NewsHour's blog of news and insight.