He said: "There are signs that supply is beginning to respond to the pick-up in demand, which if continued should help to constrain the upward pressure on prices.
Since motion upward is constrained by the stratosphere, the slowly cooling air must descend.
Our moral consensus is a river whose course shifts across the plain, constrained by the hills thrust upward by biology.
The timescales for vertical transport, t = Ln/ q, are constrained by physically plausible combinations of upward head gradients, permeability, effective porosity (n), and the depth interval between the fracture zone and shallow groundwater (L).
It's certainly possible, for instance, that the improved jobs picture is pushing Mr. Obama's approval ratings upward, while higher gas prices are constraining them — leading them to remain roughly stable overall.
The first would be to allow free international migration — upward pressure on wages would be constrained by the free movement of labor.
"It is possible that the recent pattern of strong employment growth, rising real earnings, low borrowing costs and constrained supply will tilt the demand/supply balance in favour of sellers and exert upward pressure on price growth once again in the quarters ahead," he said.
However, it is possible that the recent pattern of strong employment growth, rising real earnings, low borrowing costs and constrained supply will tilt the demand/supply balance in favour of sellers and exert upward pressure on price growth once again in the quarters ahead".
Bill McBride of Calculated Risk says yes: A key reason for the upward slope in real house prices is because some areas are land constrained, and with an increasing population, the value of land increases faster than inflation.
"Whatever is driving this upward, those factors are not changing: high demand, lower inventories, supply that is constrained, and only in part by OPEC decisions, and turmoil in the Middle East".
