July 01, 2014

People who sit precariously on the edge of personal calamity don’t need much of a push to slip over. The rent will do it. The rent does do it. Often. It is not simply that rents have risen, it is that renter incomes have fallen since the recession. Some landlords, perhaps out of greed, or perhaps out of their own struggles to maintain old buildings, have tried to push lower income renters out. The forces behind all of this are, it turns out, fairly simple: supply and demand. During the Recession, people made less money and built fewer places to live. After the Recession, people are still here, there are more of them, and they still need places to live; many of them are moving to cities, further piling onto demand. How rising rents and falling incomes can crush communities.


Also, over the past three decades, facets of Amish culture have been shifting toward a more modern take on life - one that includes iPhones, mansions and millionaires. Jen Banbury wrote an article for Bloomberg Businessweek called "What Happens When The Amish Get Rich", which explores modern-day Amish culture and capitalism, says Banbury: “It’s also very new for them. This has all happened within the last three decades or so... this massive shift from agriculture to business, and it turns out they’re great businessmen.”


THE NUMBERS as of 2:35 P.M. EDT

DOW +27.82 (+0.21%) Dow up; NASDAQ +7.80 (+0.26%)Nasdaq up S&P 500 +3.99 (+0.24%)S&P 500 up

Mid-day Update

PODCAST: Shrinking office space

As the second half of 2014 gets underway, a look at the S&P 500 index. Plus, with the number of jobs recovering since the Great Recession, a look at why office space doesn't tend to increase at the same rate. Also, is the "sharing economy" all it's cracked up to be? With big money flowing through businesses like Airbnb and Lyft, not everyone is on as equal a playing field as promised.

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