On the general subject of recession myths, here's another statistical look at the myth that the speculative boom in land prices led to some kind of crazy amount of overinvestment in houses. What we have here is building permits divided by change in non-institutional population. In other words, new buildings per new person.
You can see here that for a relatively brief period from 2004-2007 we were in fact building an unusually large number of housing units per capita. But since then we've been building an unusually small number of housing units per capita. And the bust has been both longer in duration and larger in the size of its deviation than the boom ever was.
TODAY IN SLATE
False rape accusations exist, and they are a serious problem.
Scotland Learns That Breaking Up a Country Is Hard to Do
There’s a Way to Keep Ex-Cons Out of Prison That Pays for Itself. Why Don’t More States Use It?
The Music Industry Is Ignoring Some of the Best Black Women Singing R&B
How Will You Carry Around Your Huge New iPhone? Apple Pants!
Theo’s Joint and Vanessa’s Whiskey
No sitcom did the “Very Special Episode” as well as The Cosby Show.
The Other Huxtable Effect
Thirty years ago, The Cosby Show gave us one of TV’s great feminists.