Dear Readers:

This month's cover story takes a look at Ukraine's housing market that has seen a sharp escalation in prices. We attempt to determine if we are simply seeing the results of continuing strong demand and supply, or if there might instead be evidence of a real estate bubble that could burst with devastating results.

Taras Kuzio returns with the second of a three part series chronicling the demise of the Orange Revolution, while Pavlo Prokopovych examines the effects of the National Bank's somewhat erratic money supply policy on economic stability.

Mike Willard comments on the United States' great outdoor sport, running for president, and the world's greatest indoor sport, office romances.

Just in time for International Women's Day, Volodymyr Senchenko takes on the issue of gender equality, while Serhiy Kharchenko examines the differences between Ukrainian and Russian nostalgia.

Arthur Bleu brings us the latest from Ukraine's burgeoning contemporary art scene, and Glen Willard opines that "The King Is Dead".

Add to that our regular features and you have plenty to keep you busy for at least a late winter evening or two while we search diligently for the first signs of spring. We can almost guarantee we'll find them in time for the April issue of the Ukrainian Observer.

Sincerely, the Editors.