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There's No Housing Bubble, But...

A daily digest of opinions and analysis from Bloomberg View.

But at what price?

Photographer: Daniel Acker/Bloomberg

Curbing Our Enthusiasm Over Rising Real-Estate Prices

Home prices climbed faster that expected in 20 U.S. cities, and that's great news for lenders, real estate agents and builders. But Justin Fox urges caution: Even if it's not a bubble, a thriving housing market isn't so great when you're the one who can't afford to buy. 

Big Data Isn't a Big Deal

The vast troves of information collected by internet giants contain jewels if you know how to sift for them, but when it comes to making economic predictions, big data offers meager rewards. Leonid Bershidsky explains why forecasters shouldn't abandon their traditional data-mining tools just yet. 

It's Not Facebook's Job to Guarantee Free Speech

An agreement between U.S. internet giants and the EU to censor hate speech may seem alarming, but it doesn't run afoul of the First Amendment, Noah Feldman says. Instead, it points to a larger issue: the need to create spaces for self-expression on the Internet that aren't completely controlled by private actors. 

Michael Dell Bought His Company Too Cheaply

Based on a recent court opinion, anyone who buys a company probably buys it for less than it's worth. Matt Levine examines the odd area of corporate law that undermines the usual process of valuing a stock just by seeing what people will pay for it.

How a Trump Presidency Would Threaten Democracy

Perhaps America's democratic institutions would be strong enough to withstand the presumptive Republican nominee, although Jonathan Bernstein isn't so sure. Instead, he worries that a president who stands only for himself would damage the political system's ability to offer healthy representation. 

Ritholtz's Reads

  • Why employers have lost the upper hand (Strategy+Business)
  • Millions in debt -- but for now, no reason to worry (WSJ)
  • A worrisome pileup of $100 million homes (New York Times)

(Read Barry Ritholtz's full daily news roundup.)

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