{"id":196610,"date":"2008-04-08T23:02:00","date_gmt":"2008-04-09T04:02:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/08\/delong-is-wrong-and-krugman-is-right\/"},"modified":"2008-04-08T23:02:00","modified_gmt":"2008-04-09T04:02:00","slug":"delong-is-wrong-and-krugman-is-right","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/08\/delong-is-wrong-and-krugman-is-right\/","title":{"rendered":"Delong is Wrong and Krugman is Right"},"content":{"rendered":"<p>Brad Delong belives that a significant part of the housing bubble appreciation was due to a real lack of space, and thus <a href=\"http:\/\/delong.typepad.com\/sdj\/2008\/04\/the-future-of-h.html\">he guesses that only about \u00bd of the appreciation will be lost<\/a>, thinking that some of the appreciation is being driven by the , &#8220;location, location, location&#8221; factor.<\/p>\n<p>Paul Krugman looks at the trajectories of rental and buying, and <a href=\"http:\/\/krugman.blogs.nytimes.com\/2008\/04\/08\/permanently-high-home-prices\/\">sees appreciating in housing but basically none in rentals<\/a>, which would not be the case if there were actually a shortage of land in desirable locations.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/pic60.picturetrail.com\/VOL1689\/10590113\/19309802\/312570613.jpg\" \/><\/p>\n<p>Krugman is clearly right.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brad Delong belives that a significant part of the housing bubble appreciation was due to a real lack of space, and thus he guesses that only about \u00bd of the appreciation will be lost, thinking that some of the appreciation is being driven by the , &#8220;location, location, location&#8221; factor. Paul Krugman looks at the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1088],"tags":[],"class_list":["post-196610","post","type-post","status-publish","format-standard","hentry","category-economy","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196610"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196610"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196610\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}