Should You Buy a Home in the US?

Even at currently elevated US home-price levels, buying still makes sense for those who are set on ownership. But buyers need to be sure that they can accept what could be a rather bumpy and disappointing long-term path for home values.

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Stock, Bond and Real Estate Prices Are All Uncomfortably High

The prices of stocks, bonds and real estate, the three major asset classes in the United States, are all extremely high. In fact, the three have never been this overpriced simultaneously in modern history.

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Looking Back at the First Roaring Twenties

We are in a second Roaring Twenties, or so you might think, from the countless comments suggesting that we are entering an exuberant decade that echoes the one of a century ago.

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Making Sense of Sky-High Stock Prices

Many have been puzzled that the world’s stock markets haven’t collapsed in the face of the COVID-19 pandemic and the economic downturn it has wrought. But with interest rates low and likely to stay there, equities will continue to look attractive, particularly when compared to bonds.

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People Fear a Market Crash More Than They Have in Years

The coronavirus crisis and the November election have driven fears of a major market crash to the highest levels in many years.

At the same time, stocks are trading at very high levels. That volatile combination doesn’t mean that a crash will occur, but it suggests that the risk of one is relatively high. This is a time to be careful.

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How to Navigate the Coronavirus Real Estate Market

There are signs that pockets of the U.S. housing market are heating up, particularly in the suburbs and fashionable exurbs, to which people have been fleeing to escape the coronavirus.

Some first-time buyers are feeling a sudden hurry to buy, fearing higher prices if they wait. But they are also worried about the long-run outlook for home prices.

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Understanding the Pandemic Stock Market

The worse economic fundamentals and forecasts become, the more mysterious stock-market outcomes in the US appear. At a time when genuine news suggests that equity prices should be tanking, not hitting record highs, explanations based on crowd psychology, the virality of ideas, and the dynamics of narrative epidemics can shed some light.

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