Timmy ElsewhereAugust 23, 2008August 23, 2008 Tim WorstallTimmy Elsewhere6 CommentsIn the Telegraph. Reviewing (erm, yes, here) Robert Schiller\’s new book on what to do about the sub-prime mess. previousMr. MonbiotnextWell, that\’s Paraguay screwed then 6 thoughts on “Timmy Elsewhere” Tank August 23, 2008 at 12:04 pm How come the byline is “Richard Reeves”? Is that your pen name? Or is it a mistake? john b August 23, 2008 at 12:15 pm I think he meant to link to this piece. Although the Polly review is also interesting. Mr Eugenides August 23, 2008 at 12:16 pm Actually, I think “Richard Reeves” rocks. A much pseudonym than “Mr Eugenides”, certainly. dearieme August 23, 2008 at 12:39 pm Ruben Reeves was a fine jazz trumpeter of the 30s. As if you care. Mark Wadsworth August 23, 2008 at 1:06 pm “Schiller, an economics professor at Yale, makes the point that houses shouldn’t rise in price at all.” Tee hee, the gimmick is, in the long run, house prices-to-income ratios don’t rise at all. everything in between is just bubbles/busts. Matthew August 24, 2008 at 12:58 pm I’m mot sure about Schiller’s idea, at least as you state it. For homeowners it doesn’t really work because they couldn’t afford the margin payments if they went short and prices kept rising. And in general the ones we have at the moment such as the HPI futures don’t seem to have performed much of a useful signalling function, when they were launched in Jan 07 they forecast a rise of prices of about 2-3% in 2008. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.