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Archive for January 26th, 2011

The Buckeye Nation woke up whistling a happy tune this morning.  The Basketball Buckeyes crushed the Purdue Boilermakers, 87-64, in what was easily Ohio State’s most complete and dominating game of the season.  The Buckeyes pulled away from a solid Purdue team from the opening tip, never trailed, and inexorably increased their lead, which at times exceeded 30 points in the second half. With the win, the Buckeyes opened up a two-game lead in the Big Ten conference race.

This was a game where Ohio State was hitting on all cylinders.  The team played lockdown defense on the Boilermakers throughout the game.  Although Purdue’s ace center JaJuan Johnson scored 22 points, the rest of the squad was neutralized and seemingly baffled by the Buckeyes’ tough defense.  The Buckeyes beat the Boilermakers like a drum on the boards.  Ohio State’s hustle and grit, at times, seemed to catch the Boilermakers flat-footed, such as when Jon Diebler rebounded a miss on the front end of a one-on-one as the Purdue players napped.

Offensively, the Buckeyes rained in three-pointers, took Purdue defenders to the rack, and watched Jared Sullinger work his magic on the blocks.  The game continued the season-long coming out party of Ohio State’s excellent freshmen — Sullinger, Aaron Craft, and Deshaun Thomas, each of whom made mighty contributions to the victory — and saw the Buckeyes outrebound and consistently outbattle the Boilermakers.  David Lighty, Diebler, and William Buford, who together form the heart of the Buckeyes’ steady corps of experienced players, also had tremendous games.

The rout was a complete team effort that must have warmed the hearts of head coach Thad Matta and his staff.  As impressive as the win was, however, it is only one game.  The challenge for Coach Matta and his assistants will be to continue the development of their talented players and to challenge and inspire them to reach even greater heights during the rest of the Big Ten schedule and into the NCAA tournament.

Next up for the Buckeyes is a road test Saturday against Northwestern.  It will give Buckeye fans some time to savor a very satisfying win.

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I hate to be the bearer of bad tidings, but the housing market still sucks.  Yesterday a widely followed index stated that housing prices in 20 major U.S. cities declined for the fourth month in a row.  Prices also declined from last year’s prices, which were inflated by a government tax credit program that has since expired.  Even more depressing, in nine of the 20 cities the housing price index hit a new bottom.

The bursting of the housing bubble was one of the things that pushed the American economy into recession, and housing looks like it might keep the economy mired in recession a bit longer.  The lack of a quick rebound in the housing market is frightening for American homeowners.  Most of us have a lot of our net worth tied up in our houses, and if the market continues to decline it is going to have a long-term impact on our lifestyles and, eventually, our retirements.  Even in our New Albany neighborhood we’ve seen a nearby house with a foreclosure sign in the front window, and the housing market clearly is soft.  Many of the homes that have been on the market for months haven’t even gotten showings, much less offers or sales.

I’ve mentioned to Richard and Russell that they might want to focus on renting rather than home ownership, at least in the short term.  Especially in today’s economy, you need flexibility to follow job opportunities.  Renting permits that, home ownership really doesn’t.  Renters have landlords who (theoretically, at least) take care of problems, keep up the grounds, and screen your neighbors.  To be sure, renters don’t build up equity in property — but in this economy, even homeowners aren’t doing that.  Renters also avoid tying up a good chunk of money in an asset that may not appreciate in value.

For young people, renting rather than moving directly into home ownership makes a lot of sense.  It may not be “the American dream,” but it is a prudent response to what may well be an unfortunate long-term economic reality.

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