National economics correspondent, The Wall Street Journal

Are Home Prices Again Breaking Records? Not Really

blogs.wsj.com — The National Association of Realtors' monthly home sales report made a big splash last week with news that median home prices in June had broken the record set in 2006 at the peak of the housing bubble, reaching a nominal high of $236,400. Does this mean we have another problem on our hands?
Jul 28, 2015

Home prices are 8% below their nominal 2006 peak, and 21% lower if you adjust for inflation blogs.wsj.com/economics/2015… pic.twitter.com/0ojB3PpHV9

Jul 28, 2015

After adjusting for inflation, existing home prices are actually around 15% below their peak. on.wsj.com/1LPupcC pic.twitter.com/d6uuvYqymZ

Jul 28, 2015

"Median home prices are hitting records." Why that's technically true but also misleading on.wsj.com/1LPupcC pic.twitter.com/5h4vH5mqPh

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Small Business Loan Program Suspends New Lending

wsj.com — SBA won't be able to guarantee new loans until Congress raises borrowing cap The Small Business Administration's flagship loan program suspended new lending after hitting the cap Thursday on its annual financing authority.
Jul 23, 2015

The Small Business Administration's flagship loan program was suspended today and will be dark until Congress acts on.wsj.com/1CT2t6c

Jul 24, 2015

What do small businesses need credit for? | Small Business Loan Program Suspends New Lending on.wsj.com/1g9bf66

Obama Names Sandra Black to Council of Economic Advisers

blogs.wsj.com — President Barack Obama will appoint Sandra Black, professor of economics at the University of Texas at Austin, to join the three-member White House Council of Economic Advisers. Ms. Black has done extensive research on education, inter-generational mobility, and early childhood development, including studies of how racial and socioeconomic backgrounds influence college admissions, and how school starting age, birth weights, and family backgrounds shape long-term education and labor-market outcomes.
Jul 23, 2015

Obama names Sandra Black to Council of Economic Advisers on.wsj.com/1MquUey

Jul 23, 2015

RT @JustinWolfers: The wonderful Sandy Black will be taking over from @CEABetsey as a me,her of the Council of Economic Advisers: wsj.com/articles/BL-RE…

Government Estimates Reaffirm Bleak Outlook for Social Security, Medicare

wsj.com — A disability-insurance program faces imminent depletion WASHINGTON-Government estimates for the long-term solvency of Medicare and Social Security were little changed from one year ago, reflecting general improvement in health-care cost growth and a disability-insurance program that faces imminent depletion. An annual report card Wednesday from the trustees of both programs underscored how the Social Security disability-insurance program is nearly broke.
Jul 22, 2015

Government Estimates Reaffirm Bleak Outlook for Social Security, Medicare on.wsj.com/1CQdaXj via @WSJ

Jul 22, 2015

Government Estimates Reaffirm Uncertain Outlook for Social Security, Medicare on.wsj.com/1CQdaXj via @WSJ

Jul 22, 2015

RT @louiseradnofsky: Government Estimates Reaffirm Uncertain Outlook for Social Security, Medicare on.wsj.com/1CQdaXj via @WSJ

Jul 22, 2015

Trustees report shows Social Security disability trust fund nearly exhausted. wsj.com/articles/socia… pic.twitter.com/rCGPWiDfre

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Stunned Home Buyers Find the Bidding Wars Are Back

wsj.com — A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back. From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.
Jul 20, 2015

Unlike bidding wars in '12-13, today's market has 2 important differences 1)Fewer investors 2)Far fewer foreclosures on.wsj.com/1OruoLu

Why the White House No Longer Projects a Decline in Debt

blogs.wsj.com — When the White House produced its annual budget last year, it projected a steady decline in the nation's debt as a share of economic output over the coming decade. A set of revisions released Tuesday show that, due largely to slower-than-anticipated economic growth, the debt isn't likely to decline much after all.

White House Cuts Growth Forecast for 2015, 2016

wsj.com — Now estimates 2% growth this year, 2.9% next year The White House said it sees U.S. growth rising by just 2% this year before rebounding to 2.9% in 2016-down from its earlier forecast of 3% growth for both 2015 and 2016 released in February-after the economy stalled during the first quarter.
Jul 14, 2015

White House cuts U.S. growth forecast to 2% for 2015 from earlier call of 3% expansion wsj.com/articles/white…

Jul 14, 2015

White House cuts growth forecast for 2015 to 2% from 3% after bad first quarter. Also trims deficit projection by 22% on.wsj.com/1O4Eh0Y

Jul 16, 2015

RT @SteveRattner: Most economists have consistently overestimated US growth. Reality is we need more pro growth policies on.wsj.com/1O4Eh0Y

U.S. Annual Budget Deficit Remains Near 7-Year Low in June

wsj.com — A surplus brought the budget deficit over the last 12 months to $431 billion, down nearly 20% from a year ago WASHINGTON-The U.S. budget deficit remained near its lowest level in seven years in June amid a brightening economic outlook that has boosted revenues, the Treasury Department said Monday. The U.S.

Should Congress Abolish the Federal Debt Limit?

blogs.wsj.com — Is it time to ditch the debt ceiling? The Government Accountability Office raises that question in a new report that both quantifies the damage caused by past episodes of debt-ceiling brinksmanship and offers Congress with possible ways out. The report is particularly relevant right now because the U.S.

Puerto Rico’s Debt Woes Are Conundrum for GOP

wsj.com — WASHINGTON-The looming prospect of a wave of debt defaults by Puerto Rico is forcing Congress and the 2016 presidential candidates to grapple with a federal response to help the embattled island. The struggle over how to solve the territory's debt problems has stirred deep opposition from some bondholders and conservative groups, potentially splintering lawmakers and freezing any federal action.
More Articles →
Jul 28, 2015

@JodyShenn @ricksharga agree with Jody. I'm not saying "there's no bubble" per se; I'm saying "don't use this data to look for it."

Jul 28, 2015

@LoganMohtashami in other words, if you're worried about a bubble, watch price to income/rent, not median price.

Jul 28, 2015

@LoganMohtashami Only if there is strong home price inflation but less wage inflation. For affordability, stick to price to income/rent.

Jul 28, 2015

"Median home prices are hitting records." Why that's technically true but also misleading on.wsj.com/1LPupcC pic.twitter.com/5h4vH5mqPh

Jul 28, 2015

RT @erikbryn: @ModeledBehavior If Kalanick were nicer he'd still be waiting for permission to operate in most cities.

Jul 28, 2015

U.S. homeownership rate hits 48-year low as household formation—all renters—picks up census.gov/housing/hvs/fi… pic.twitter.com/4lf7oLThb6

Jul 28, 2015

US home prices have been rising at the same 4.4% YoY rate for much of the past year on.wsj.com/1LPBbyS pic.twitter.com/ziG7hfd5ba

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