| Theory of Money and Credit, The
Mises wrote this book for the ages, and it remains the most spirited, thorough, and scientifically rigorous treatise on money to ever appear. It made his reputation across Europe and established him as the most important economist of his age. This classic treatise on monetary theory remains the definitive integration of microeconomics and macroeconomics. As Rothbard points out in his introduction to "the best book on money ever written," economists have yet to absorb all its lessons. Mises shows how money had its origin in the market, and how its value is based on its usefulness as a commodity in exchange. In a step-by-step manner, Mises presents the case for sound money with no inflation, and presents the beginnings of a full-scale business cycle theory. This edition includes Mises's early blueprint, improved later in life, for a return to a fully backed gold standard and competitive banking.
Bellway warns of credit crunch impact on new homes market
A continued rise in home sales in Scotland and the south of England was not enough to offset falling demand for new homes in the middle and north of England, FTSE-250 housebuilder Bellway reported yesterday. The company reported a 4% drop in pre-tax profit to £96.9m for the six months to January 31, in line with expectations, but warned that the credit crunch was hitting supplies of mortgages, particularly to the key first-time buyer market. Bellway sold 3252 homes over the period, down 12 on the year before. But in Scotland sales were up 15% to 440. .
4 Your Money: Home Prices & Durable Goods
Our CBS4 Your Money Segment showed year-over- year home price declines in January were led by drops of 19.3 percent in Las Vegas and Miami. One real estate firm in South Florida sees bargains in the condo market, and said prices may decline further when adjustable rates reset by summer's end. CONDO VULTURES According to a South Florida real estate investment group called Condo Vultures.com, the growing inventory of unsold local condominiums is blamed on another 1% drop in prices in South Florida. Analysts explained this summer could get even worse with more foreclosures and newly-built inventory coming on the market. The flip side is if you're in the market for a condo, there are growing discounts out there. Prices dropping the most have been in North Bay Village and Fisher Island. Prices have been leveling off in Aventura, Key Biscayne and Pompano Beach.
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