Shortages of collateral, rehypothecation of collateral, and pledging collateral while retaining ownership of said collateral is rampant. What could possibly go wrong? So lenders can pledge collateral the do not even own for subsequent deals.

I see your point. But at what point does real estate not reflect fundamental rent, resulting in potential vulnerability?

Prof, interesting article. But Nevada is a recourse state and that did not stop the mass exodus. The Canadian market seems a bit insane. It seems to have priced out a lot of people but behaves as if it hasn't.

Moving out of Texas, a truly boring landscape with disturbing weather is much easier to do than leaving California, a place blessed with great weather and magnificent landscapes. Cali already has an outlet, my state, Nevada. But when you are addicted to perpetual spring, sometimes you don't want hot summers. People have no idea how many people live in Las Vegas instead of their preferred San Diego because of cost, but many others fear the summer. Most coastal people will not brave hot summers if they can afford to stay on the coast.

Interesting point. At what point will cable companies just stop offering channels, like they want to choose which websites get to download faster as they oppose net neutrality. However, this would be risky for cable, who stand to alienate millions upon millions of Americans if they ever try to limit channels by price.

Some people find Netflix by itself far too limiting.

Trump must love this unless he is coming to his senses.

Procyclical policy of drying up credit to small business just when it needs it the most is surely a fools game. And then when it all crashes our Fed leaves small business hanging on without helping the credit crunch they have. The BOE, by the way, doesn't act that way. We should not tolerate a central bank that acts that way to US small business.

Hi Kurt, if the author doesn't mind, here is the article for you: www.talkmarkets.com/.../top-ten-reasons-self-driving-cars-are-useless She was clear in her current article, there are issues with self driving cars. But there are even more issues than most have imagined.

Shake Shack simply needs to come up with a better burger for the money.