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Posted by: Michael Mandel on May 26
David H comments that “So, try to make the case to me that Tech is a better place to spend my money.”
Well, David, I can’t make that case as long as mortgage rates stay so low and home values keep going up. But that’s the whole point. Ultimately, we’d all be better off if just a bit of the $700 billion being used for residential investment—up from $500 billion just 3 years ago—was shifted to building out the broadband network instead. Spending $700 billion on housing is just a bad use of resources.
Incidentally, David has a wonderful website called “The Symphonic House.”
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.