“Nationally, renters are spending more of their income on rent than they have at any point in the past 30 years. Historically in the United States, the median household would need to spend 24.9 percent of their income to afford the rent on the median property. Currently that number stands at 29.6 percent. In some parts of the country such as Los Angeles, Miami and San Francisco, the average household would need to spend over 40 percent of their income to rent the average home.
The hegemony of homogeneity (FT Alphaville)
Home is where the money is (FT Alphaville)
Roar of the permabear (FT Alphaville)
Larry Summers on forwarding the Doozer economy (FT Alphaville)
A bit obvious really, but nevertheless worth a read: “Given the increasing popularity of smart beta strategies and the large number of providers, growing investment in smart beta factors could result in the disappearance of excess returns to those factors as the market’s capacity is exhausted. Furthermore, overcrowding can lead to overvaluation and factor crashes.”