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Brad DeLong's Grasping Reality 2019-10-18 15:53:41

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Comment of the Day: Meno https://www.bradford-delong.com/2019/10/eg-a-growing-problem-in-real-estate-too-many-too-big-houses-wsj.html: "Occasionally you post something like this that reminds us how foreign the USA is to some of us. Mansions, that we get. Rock stars and film moguls need to live somewhere, with their minders, crew, and hangers-on. 2,000 square foot “shacks” at the beach that stand empty most of the year-sure. Lawyers’ families gotta go somewhere on the weekend to take the boat out. It’s the McMansions that are odd. Who the heck buys a 7-bedroom 8,000 square foot house? And why? What does a couple do with all that space? It’s not the price, it’s the size... #commentoftheday #2019-10-18

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Comment of the Day: Meno https://www.bradford-delong.com/2019/10/eg-a-growing-problem-in-real-estate-too-many-too-big-houses-wsj.html: "Occasionally you post something like this that reminds us how foreign the USA is to some of us. Mansions, that we get. Rock stars and film moguls need to live somewhere, with their minders, crew, and hangers-on. 2,000 square foot “shacks” at the beach that stand empty most of the year-sure. Lawyers’ families gotta go somewhere on the weekend to take the boat out. It’s the McMansions that are odd. Who the heck buys a 7-bedroom 8,000 square foot house? And why? What does a couple do with all that space? It’s not the price, it’s the size...


#commentoftheday #2019-10-18
Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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