There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly. Mark Zandi Read Quote
The key to house prices is the share of foreclosure or short sales in the total housing market. When that share rises, house prices will fall, because distressed properties sell for significantly less – currently around 25 percent below non-distressed houses. Mark Zandi Read Quote
There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments. Mark Zandi Read Quote
There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren’t among them. Mark Zandi Read Quote
The FHA’s success provides strong evidence that government can and should play a role in the nation’s mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it. Mark Zandi Read Quote
We need to get rid of the debt ceiling law. It’s anachronistic and it’s a problem. Mark Zandi Read Quote
The discussion in Washington has changed dramatically. I mean, it’s no longer a question of should we address entitlements – it’s no longer a question of do we need to reduce spending in the future. Mark Zandi Read Quote
Past experience with fiscal austerity at home and overseas strongly suggests that it is best for the economy’s long-run performance to restrain government spending rather than raise taxes. Mark Zandi Read Quote
It is easy to be pessimistic. These are extraordinarily difficult times, and the collective psyche is teetering. But we are closer to righting the wrongs that got us into this economic mess than most of us believe. Mark Zandi Read Quote
