Phrase by 'Mark Zandi'
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It is time to move on. House prices won't rise and the economy won't fully engage until more distressed properties are resolved and put back into ordinary use.
Author: Mark Zandi - American EconomistTime , Back , House , Rise
It is hard to be enthusiastic about the economy's prospects when house prices are falling: Households spend less, small business owners can't use homes as collateral for loans and local governments are forced to cut jobs and programs as property-tax revenue disappears.
Author: Mark Zandi - American EconomistBusiness , House , Small , Hard
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.
Author: Mark Zandi - American EconomistBetter , Way , Low , Take Advantage
The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.
Author: Mark Zandi - American EconomistMore , Out , Control , Housing
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.
Author: Mark Zandi - American EconomistGreat , Reality , Government , Fate
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.
Author: Mark Zandi - American EconomistDepression , Great , Born , Maturity