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A housing renaissance has begun. This may be hard to believe after the dizzying, six-year-long crash in home sales, construction and house prices. But housing turned the corner last year, and it will take off in 2013.

Mark Zandi

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Mark Zandi
Age: 54
Economist
Pennsylvania
United States
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More quotes by Mark Zandi

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Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.
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It has become fashionable to rail against government intervention in the economy, and the FHA is a favorite example by those trying to show the government's overreach. In reality, the FHA shows how government action during the Great Recession forestalled a much worse economic fate.
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In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.
Mark Zandi
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Mark Zandi
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I only have two things in my life, my family and work. If there's any time left over, then I play sports.
Mark Zandi
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Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
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No one should expect the value of their house to appreciate quickly - counting on your home to be a significant part of your retirement saving isn't a winning strategy - but it is reasonable to expect that prices generally will rise with at least the rate of inflation for some time to come.
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Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
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Mark Zandi
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Our biggest challenge is to eliminate the popular perception that economists don't have anything useful to say.
Mark Zandi
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The upshot of Mr. Trump's economic policy positions under almost any scenario is that the U.S. economy will be more isolated and diminished.
Mark Zandi
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Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
Mark Zandi
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The most important point is, in a time of crisis, there is no way out but for the government to be bold and aggressive.
Mark Zandi
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I've done work for both Democrats and Republicans.
Mark Zandi
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Mark Zandi
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Mark Zandi