Blog #2

Canada Housing starts cool in October, but still cold
Canadian Statistics data showed that the annual inflation rate(6.2 percent from 6.5 percent ) in new housing prices declined for ten consecutive months in September but still is positive. Bank of Canada uses housing price as an indicator of whether the economy is overheating. Figures shows that the decreasing rate of housing price is greater than increase. As according to the data, double digit annual price rises were seen in Calgary(it was only 5.9 percent higher from a year ago; however, in previous years it was 59.4 percent), Edmonton, Winnipeg, Regina and Saskatoon(these 3 provinces are 47% higher than in September). On the other hand, Windsor was the only town where price deflation is still occurring.
see article


Relation to the chapter -demand , elasticity, supply
This article relates to the chapter in a few ways. As we can see from the cooling off of house pricing, this indicates a sign of decrease in demand. "Figures shows that the decreasing rate of housing price is greater than increase..."The actual cause of this decrease was not stated in the article, but some of the causes for this decrease in demand might be the lowering in price of mortgage rates. Since the housing price is so high, people would rather get an apartment first or maybe even rent a house first. It is true that we all need a shelter; however, houses are elastic. Thus, the quantity demanded will be affected when prices continue to rise. The reason is there are substitutes to housing such as renting or buying apartments, and that the percentage of budget of an individual is quite high. I think many people will be wondering if the demand is continuing to decrease, will the price of housing be pushed back down to a more reasonable and affordable price?

Personal Reflection
In my point of view, I think the price of housing is evidently going to continue to decline due to the decline in demand. This is also what i have predicted before when the housing price started to raise dramatically 5 to 6 years ago, because of the massive increase in Chinese and Taiwanese immigrants who are very rich. Moreover, because land is a scarcity. Although prices for housing is starting to be at its cooling stage; however, the price of a house is still very expensive, which many average families are not able to afford (the tax, the mortgage..etc). Thus, is it still worth it to spend that huge amount of money on a house now while the price is still dropping? Personally, if i was desperate for a shelter, i would prefer renting a place first, because i believe that the price will drop dramatically like how it rose dramatically at first. That is the good time to buy a house.

Blog #1 [America's pro-Israel lobby - Powerful, but not that Powerful]

Two Americans academics wrote an article declaring that America is in favour of Israel, invading Iraq, caused furious criticism. It is believed that the writers were trying to stir up painful questions of American Jews. Later on the article grew into a book which explained how AIPAC helped to shape American thinking about the region. Their thesis stated that America and Israel are in special relationships. the writers were trying go blame Israel for Iraq invasion. On further reading, the clarify turns into a muddle. The writers put a twist that the driving force for the Iraq battle was Israel but a "small band of neoconservatives". The writer also argued that neocons favour invasion before 2001. America only intended to attack Iraq because of the 911 incident. In conclusion, the writer did not have any evidence that the neocons were the planner of Iraq war. After reading the book, it is hard to believe that the Iraq war was our of Israel's interest. click here to see article

This article relates to the chapter in ways like opportunity cost. The opportunity cost of having US invade Iraq would be the amount of money they are putting in. As we all know that there are many alternative ways to use the fund, like rebuilding roads, improving facilities, donations to the poor, and many other types of services. Moreover, they are not only giving up money, but many American's lives also. These American soldiers that are sacrificing can be living still instead of dying or risking their lives in the battle of Iraq.

In my opinion, i think it is very unfair for the writers to blame everything on Israel since US is also responsible for the invasion. Also, US intended to invade Iraq because of the 911 incident...which is not related to the Jews. Having the writers criticize the jews like that will only lead to severe racism against them in US. Moreover, i think if the writers don't even have enough evidence to prove it's Israel's responsibility, they shouldn't be giving such a strong thesis to blame them, because they dun even know for sure. Moreover, i think US should try to use other ways of controlling Iraq instead of battle. Because i think violence should always be the last resort to a problem, because it involves the sacrifice of human lives.