“[Sacramento] was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery, a hopeful sign for an economy mired in trouble and anxiety. Investors and first-time buyers, the traditional harbingers of a housing rebound, are out in force here, competing for bargain-price foreclosures…. Indications of progress are visible in other hard-hit areas, including Las Vegas, parts of Florida and the Inland Empire in southeastern California.” (New York Times, Tuesday)
Is it recovery or re-inflation of the bubble?
FEE Timely Classic
“Interest Rates and the Business Cycle” by Glen Tenney
