Category Archives: Economics

California

squashes its young:

Young people overwhelmingly prefer single-family houses, which represent 80 percent of home purchases nationwide for people under 35. If millennials continue their current rate of savings, notes one study, they would need 28 years to qualify for a median-priced house in San Francisco—but only five years in Charlotte and just three in Atlanta. This may be one reason, notes a recent ULI report, why 74 percent of Bay Area millennials are considering moving out in the next five years.

Regional planners and commercial chambers should indeed look to California as a model—of exactly what not to do. The state’s large metro areas are no longer hot growth spots for millennials, who are flocking to suburbs and exurbs elsewhere. Since 2010, the biggest gains in millennial residents have been in low-density, comparatively affordable cities such as Orlando, Austin, and Nashville. Ultimately, the battle for California’s future—and much of Blue America’s—will turn on how these regions meet the challenge of providing housing and opportunities to a new generation of workers and young families. A California that works only for the wealthy and well-established is not sustainable.

Something that can’t go on forever, won’t.

Vector Space Systems

Congratulations on a successful test fight in Mojave today. That’s pretty good progress for a year-old company. There’s going to be a shakeout in this market, but they seem to be real.

[Mid-afternoon update]

I like how the shadow stays in the frame as the rocket disappears from it.

[Thursday-morning update]

Eric Berger has the story.

Gavin Schmidt

He attempts to discredit Judith Curry, and you’ll never guess what happens next!

There is one wonderful thing about Gavin’s argument, and one even more wonderful thing.

The wonderful thing is that he is arguing that Dr. Curry is wrong about the models being tuned to the actual data during the period because the models are so wrong (!).

The models were not tuned to consistency with the period of interest as shown by the fact that – the models are not consistent with the period of interest. Gavin points out that the models range all over the map, when you look at the 5% – 95% range of trends. He’s right, the models do not cluster tightly around the observations, and they should, if they were modeling the climate well.

Here’s the even more wonderful thing. If you read the relevant portions of the IPCC reports, looking for the comparison of observations to model projections, each is a masterpiece of obfuscation on this same point. You never see a clean, clear, understandable presentation of the models-to-actuals comparison. But look at those histograms above, direct from the hand of Gavin. It’s the clearest presentation I’ve ever run across that the models run hot. Thank you, Gavin.

Yes, thank you.

[Update a while later]

Semi-related: Chelsea HubbellClinton tweets about science, and you’ll never guess what happened next!

Yesterday’s Senate Space Hearing

Bob Zimmerman has a roundup of links, and some thoughts:

Cruz’s effort here appears incredibly bi-partisan. The only other Senate attendees to the hearing were Democrats, with the former and new ranking leaders of the subcommittee from the Democratic Party, Bill Nelson (R-Florida) and Ed Markey (R-Massachusetts), participating eagerly and without rancor. They were both there for the entire hearing, and were clearly being influenced not only by Cruz’s remarks but by the testimony of the witnesses. That no other Republican attended this hearing was I think not because they were boycotting Cruz (several fellow committee members, such as Mike Lee (R-Utah), are strong conservative allies) but because Cruz does not need to convince them to support his position. He was working here to bring the Democrats to his side, and it appeared that he was having some success.

Most important of all, however, were the repeated references to the Outer Space Treaty by Cruz and others. That Cruz noted that maybe it is outdated and needs revision did not surprise me. What was significant, and not captured by the stories above, was his reference to the idea of incorporating the American concept of homesteading in that revision. Even more significant was Bill Nelson’s hearty endorsement of the idea, noting that his own family had obtained land through homesteading in the early 20th century, a piece of land that just happened to be located near one end of the space shuttle runway at the Kennedy Space Center.

While these senators might have been influenced by my op-ed in The Federalist last week, I think it much more likely that they have been, like me, considering this issue themselves, and that I more likely sensed the wave coming from many different places, and caught it with my op-ed at just the right time.

If there’s any administration that could take action on the OST, it’s this one.