>> In the United States, Gladwell is sad to report, cap rates are really low owing to poverty, stupidity, and culture. Yes, that would explain why we're one of

>> In the United States, Gladwell is sad to report, cap rates are really low owing to poverty, stupidity, and culture. Yes, that would explain why we're one of the wealthiest societies that have ever existed. </sarcasm> As for stupidity in our society: there are many Americans who like to publically preen with a statement of the form "In our culture, we are so " + <negative social attribute>. The clear intent is to make the speaker seem simultaneously knowledgable enough about other cultures to make a fair comparison and slightly daring -- nay, a latter day Solzhenitsyn, such is one's daring. That's not the stupid part, just boring vanity. The stupid part is those people who buy into it. Few of these people have ever lived in other societies (I've lived in two.)