Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list discusses New Zealand house prices, 50% higher than the peak of the U.S. bubble …….. and the last article asks if the U.S. needs a mandatory retirement savings plan.
- New Zealand house prices launch for the stars (Leith van Onselen, Macro Business) The median house price in New Zealand has risen to 6.6x median household income. At the peak of the U.S. bubble the ratio was 4.3x.
- Snowden’s girlfriend, a dancer and nature lover, said to be shocked by his actions (Carol D. Leonnig and Julie Tate, The Washington Post, 11 June 2013) – Read also Lindsay Mills, Edward Snowden’s Girlfriend, Writes ‘All I Feel Is Alone’ (Caroline Linton, The Daily Beast, 11 June 2013)
- The Policy Absurdity of the Monthly Jobs Report (Mohamed El-Erian, LinkedIn)
- When will the rise in US mortgage rates hit consumer demand? (Sober Look, Credit Writedowns) While you weren’t looking average 30-year mortgage interest increased by 24% (80 bp). But new purchase mortgage applications have not bee much affected – – – yet.
- Millionaires’ Biggest Financial Regret (John Sullivan, AdvisorOne) Not developing a financial plan earlier in life took top spot in new study.
- Please, keep finance out of macro (Scott Sumner, The Money Illusion) Read all the comments.
- ‘Financialization’ as a Cause of Economic Malaise (Bruce Bartlett, The New York Times)
- Confused central banks and the need for an autopilot (The Market Monetarist)
- 10 Worst Charities in America (Michael S. Fischer, AdvisorOne) Report says 50 charities paid $1 billion to for-profit donation solicitors and gave little in actual aid to their causes.
- Does the US need a mandatory retirement savings program? (Tadas Viskanta, Abnormal Returns)