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Would we be in a recession without AI?
Investment, imports, and the stock market wealth effect "Without the AI boom, we probably would be in a recession.” I keep hearing this. Is it true? The AI infrastructure buildout has partly offset weak construction and fueled a boom in computer equipment and software investment. And the AI-powered stock market surge has raised household wealth and, with it, consumer spending. But just how big are these effects? This depends on the actual amount of AI-related construction, w
4 hours ago
America's housing affordability challenge: How big and how broad?
A UHERO Blog post We’ve heard lots about the unaffordability of housing. How widespread is it and how extreme? To assess this, we need to do more than some of the simple illustrations out there, like those that compare the ratio of home price to income over time. Affordability also depends on other factors, including the size of down payments, prevailing interest rates, property taxes, and home insurance rates. I compare the market median home price to a measure of the afford
Jul 2
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