The Economist
 wonders about housing
markets in Britain and
America: “After soaring for years,
housing markets throughout the rich world have been looking wobbly for some
time. But surprisingly strong data on mortgages and house-building released this
week in America and
Britain seem to signal at least a
temporary reprieve. How long can this go on? And what will happen to the economy
when it finally stops?”

The experience the venerable mag
reports is not unlike that in the land of Oz, where indicators fluctuate in a
confusing manner and the best overall summary is probably
“flat.”

Henry has followed the ups and downs
of the Oz housing market throughout the year here (Goldmember subscription
required).

Also today, Nick Gruen looks again at the Greenhouse issue:

At the end of each year, like migratory birds, the world’s
international greenhouse diplomats – over ten thousand of them – hear a
mysterious call. And each year the tell-tale trails of greenhouse gas
seem to stretch yet further across the sky as planes descend on another
exotic location. And another Conference of the Parties (COP) to the
United Nations Framework Convention on Climate Change (UNFCCC) takes
place.

This year the 11th COP took place in Montreal from 28 November to 9 December.

Read the full article here.