United Liberty

An article in the Sunday, March 15 edition of The Birmingham News, entitled “Lots crumble and mud flows”, discusses some of the complications resulting from the plethora of unfinished housing projects that have been put on hold in the current economic crisis. The problems include excessive runoff and mud flows, crumbling roads without a final seal coat, empty houses in various stages of construction, construction debris posing safety hazards, and other various forms of pollution. Curiously, nowhere in the article does its author acknowledge that most of these housing construction projects are the result of a housing bubble.

Note: This is a revision of a previous article that was entitled “Falling Prices: Why is Food Not Part of This Trend?”. The author has made the revisions to reflect the fact that crop commodities are in fact deflating, while maintaining that agriculture subsidies did in fact play a role in pushing the prices artificially high, prior to the current correction.