Recession Self-Expression

Someone recently spray-painted “Punk is not dead,” etc., on a fence near our house--which is essentially the bank’s house, since we have two adjustable-rate mortgages.

Not that you'd care, Banksy-in-training, but did you know the mere presence of graffiti can knock 15 percent off nearby home values, according to the National Association of Realtors? Did you?

From an economic standpoint, we probably should take the free paint the city of Seattle provides for the purpose and go all Giuliani on your John Hancock.

Shocking new research reveals people are more likely to trash a place that’s bombed with spray paint. But hold the paint rollers, people. Social scientists have debated the “broken-window” theory--essentially, that little misdeeds can mean a lot--since the 1980s. Long before Giuliani, French political economist Claude Frédéric Bast came up with the parable of a broken window to illustrate hidden costs of individual decisions. Economists must take into account what is seen and what is not seen, Bast said.

So what have you seen, Seattle? Now that we’re officially in a recession, is there more graffiti in your hood? Did you paint over it? Did it come back?

And one last thing. Punk: dead or not?