A very important analysis by Jeremy Grantham.
Summary of the Summary: The world is using up its natural resources at an alarming rate, and this has caused a permanent shift in their value. We all need to adjust our behavior to this new environment. It would help if we did it quickly.
For Rhode Island folks – the one’s I’ve been badgering about real estate appraisal – I’d suggest we approach real estate values in terms of the broader, data-driven analysis that is Grantham’s bent – research on historical trends in not only real estate, but relevant commodities, transportation, food economies, energy, climate change (sea level rise), and population demographics.
Richard Pace 