Posted by Doug Wolkon on September 29, 2009 at 2:29 pm
Dear Michigan Economics Society (MES),
Thank you for the opportunity to teach economics at the University of Michigan. The questions were insightful and thoughtful. We sincerely welcome you to further our discussion on this blog.
Attached is the Pluranomics Film that we presented to you at the close of the lecture. Thanks again.
So often I am asked if I think home prices are going up or down. I remember in 2004 sitting around a big conference table with my private equity partners answering this same question (we financed large condo projects and bought raw land parcels to resell to home builders). And even with the 30%+ drop in housing prices in America from their peak in 2006, my then most unpopular answer has not changed, its still “down”. Continued »