To fund the Bubble, the museum originally turned to Bloomberg, planning to call it the Bloomberg Balloon in honor of a $1 million (or greater) gift. But, perhaps tellingly, the Hirshhorn has not consistently referred to the Bloomberg Balloon as such, suggesting there may still be room—or the need—for a larger donor. Diminishing federal support certainly won’t fund the Bubble, and to date, the museum's board has not stepped up to bridge the funding gap. — tnr.com
Too often during the bubble, banks and builders shunned thoughtful architecture and urban design in favor of cookie-cutter houses that could be easily repackaged as derivatives to be flipped, while architects snubbed housing to pursue more prestigious projects.
But better design is precisely what suburban America needs, particularly when it comes to rethinking the basic residential categories that define it, but can no longer accommodate the realities of domestic life. — nytimes.com
If you believe the adage about real estate -- that bit about the three most important things being location, location, location -- then one would think there are few places worse to own a home than the Gaza strip. [...] And yet, home prices are up sharply. — marketplace.publicradio.org
The danger, experts say, is that China’s municipal governments could already be sitting on huge mountains of hidden debt — a lurking liability that threatens to stunt the nation’s economic growth for years or even decades to come. Just last week China’s national auditor, who reports to the cabinet, warned of the perils of local government borrowing. — NYT
The NYT publishes the first in what will be a series of articles examining China’s system of government-managed capitalism, and the potential weaknesses that could threaten the nation’s remarkable economic growth. The first article entitled "Building Boom in China Stirs Fears of Debt...
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