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Mark Zandi

Mark Zandi Quotes

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Mark Zandi, born in 1959, is an influential expert in the field of economics. He has extensive expertise in economic forecasting, policy analysis, and financial market research, particularly in the areas of financial crises and macroeconomic analysis.

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Famous Mark Zandi Quotes

“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.”

Should Has Beens Play Government Strong Nations Roles Economy Evidence Finance Intervention Messy Mortgage Recessions Government Intervention Great Recession

Author:Mark Zandi

“I'm a registered Democrat.”

Author:Mark Zandi

“Distressed properties are often vacant and in disrepair, and thus sold at significant discounts. As the share of distressed sales grows, home prices fall.”

Home Fall Grows Share Property Significant Discounts Vacant

Author:Mark Zandi

“Housing was ground zero for the Great Recession. Between early 2006 and Obama's inauguration in 2009, average house prices fell by a third across the country. In certain areas, including cities as diverse as Akron, Orlando and Las Vegas, house prices fell by more than half.”

Country Certain House Cities Half Areas Thirds Including Average Zero Diverse Housing Vegas Las Vegas Recessions Inauguration Orlando Ground Zero Great Recession House Prices

Author:Mark Zandi

“In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.”

Giving Stills Helping Interest Pay Break Amount Principal Payment Stressed Mortgage Forbearance Homeowners Affordability

Author:Mark Zandi

“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.”

Years Three Born Five Crisis Dues Significant Maturity Five Years Bullets Loan Mortgage Great Depression 1930s Foreclosure Dodging Bullets

Author:Mark Zandi

“Investor demand for distressed property has been healthy, as rents rise to levels that can cover investors' costs while they wait for properties to appreciate. Giving investors a small tax break should further juice up demand, supporting prices for distressed homes and the market in general.”

Giving Should Has Beens Home Waiting Levels Break Healthy Cost Demand Taxes Appreciate Property Investors Juice Giving In Tax Breaks

Author:Mark Zandi

“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.”

Trying Shows Reality Government Action Economy Fate Economic Example Intervention Fashionable Recessions Rail Government Intervention Great Recession

Author:Mark Zandi

“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.”

“Lenders look at potential borrowers from many angles before extending credit: How much of its income will a household need to put into debt repayment? How large is the down payment? Does the borrower have a job with a stable income? What is the borrower's credit score?”

Needs Looks Doe Jobs Credit Debt Income Score Stable Household Angle Payment Extending Lenders Borrowers Repayment Credit Scores

Author:Mark Zandi

“The average credit score of today's FHA borrowers is higher than the average American household with a score. As it becomes more costly and difficult to get a FHA loan, loans from private mortgage lenders will become more attractive and their market share will grow.”

Today Grows Difficult Share Higher Average Credit Attractive Score Household Loan Mortgage Lenders Borrowers Credit Scores

Author:Mark Zandi

“The Bush tax cuts should be extended permanently for families with annual incomes of less than $250,000 and should be phased out slowly for those making more than that. Raising taxes on anyone now, when the economic recovery is so fragile, would be a mistake.”

Should Would Be Mistake Cutting Economic Taxes Income Recovery Fragile Annuals Tax Cuts Raising Taxes Economic Recovery

Author:Mark Zandi

“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.”

Fall House Share Keys Percent Sells Property Housing Foreclosure Housing Market House Prices

Author:Mark Zandi

“The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of the financial panic.”

Fall Interest Worst Particular Lows Deserve Rate Financial Credit Administration Panic Household Phases Housing Empowered Mortgage Interest Rate

Author:Mark Zandi

“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.”

Way Hard Helping Records Lows Advantage Rate Fixed Payment Better Ways Mortgage Homeowners Buoys Mortgage Rate

Author:Mark Zandi

“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.”

Made Two Real Past House Mistake Institutions Blame Decades Finance Plenty Giants Bubbles Soar Housing Macs Mae Craters House Prices Housing Bubble

Author:Mark Zandi

“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.”

Way Made Hard Problem Today Easy Millions Economy Creating Financial Credit Bubbles Contrast Housing Loan Calamity Mortgage Recessions Great Recession Housing Market Housing Bubble

Author:Mark Zandi

“Predicting recessions is indeed a dark art, but I think we are several years away from the next one.”

Thinking Years Art Next Dark Recessions The Next One Predicting Dark Art

Author:Mark Zandi

“At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.”

Thinking Today Technology Economy Serious Financial Bubbles Mortgage Recessions Imbalance Financial System Great Recession

Author:Mark Zandi

“An overheating economy, characterized by accelerating inflation and rising interest rates, is another precondition for recession. This doesn't describe today's economy.”

Today Interest Economy Rate Rising Inflation Recessions Interest Rate

Author:Mark Zandi

“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.”

Hard Easy Effort Economy Security Policy Months Rate Including Financial Billions Lifts Buying Japan Pushing Monetary Central Banks Monetary Policy Financial Security Each Month

Author:Mark Zandi

“If Mr. Trump gets precisely the policies he says he wants, then the economy will suffer a recession.”

Ifs Want Suffering Economy Policy Trump Recessions

Author:Mark Zandi

“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.”

Economy Economic Policy Position Trump Isolated Scenarios Economic Policy

Author:Mark Zandi

“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.”

Should Home Values House Winning Appreciate Strategy Rate Significant Saving Reasonable Retirement Inflation Counting

Author:Mark Zandi

“There is a banking adage that if it's growing like a weed, it's a good chance that it's a weed.”

Ifs Chance Growing Weed Banking Adages Good Chance

Author:Mark Zandi

“Yes. I don't think it would be appropriate at this point to raise taxes on anyone, certainly not in 2011.”

Thinking Would Be Taxes Raises Appropriate

Author:Mark Zandi

“A home is still the biggest asset that most Americans own.”

Stills Home Assets

Author:Mark Zandi

“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.”

Thinking World Way Differences Economic Policy Normal Crisis One Way Economic Policy Times Of Crisis

Author:Mark Zandi

“Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife.”

Ifs Want Home Fall House Buying Knives Decline House Prices Buying A Home

Author:Mark Zandi

“I've done work for both Democrats and Republicans.”

Done Republican Democrat

Author:Mark Zandi

“I only have two things in my life, my family and work. If there's any time left over, then I play sports.”

Ifs Two Play Left Sports My Family Two Things Time Left

Author:Mark Zandi

“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.”

Years Believe May Long Hard Home Lasts House Six Corners Construction Last Year Crash Housing Renaissance Hard To Believe House Prices

Author:Mark Zandi

“Defaulting on the nation's debt would be cataclysmic. The U.S. Treasury's Aaa rating is the one constant in the world's financial system. When times are bad anywhere on the planet, global investors flock to Treasury bonds because they know they will get their money back.”

Knows World Would Be Nations Planets Constant Financial Debt Investors Flocks Rating Treasury Financial System Treasury Bond

Author:Mark Zandi

“The principal linkages between Japan and the U.S. global economies are trade, financial markets, and commodity markets.”

Economy Trade Financial Japan Principal Commodity Global Economy Financial Markets Linkages

Author:Mark Zandi

“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.”

Needs Should Mean Changed Spending Discussion Addresses Entitlement

Author:Mark Zandi

“Our economy isn't going to recover until the housing market finds its footing.”

Economy Housing Housing Market

Author:Mark Zandi

“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?”

Firsts Doe Two Home Choices Process Decision Steps Cost Financial Determine Income Payment Mortgage Buyers Owning A Home

Author:Mark Zandi

“Our biggest challenge is to eliminate the popular perception that economists don't have anything useful to say.”

Challenges Perception Economist

Author:Mark Zandi

“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.”

Long Home Government Running Past Economy Taxes Performances Raises Spending Long Runs Government Spending Austerity Past Experiences

Author:Mark Zandi

“The extension and expansion of the payroll tax holidays for workers would be number one on my list and key to avoiding recession.”

Would Be Numbers Keys Taxes Workers Lists Holiday Expansion Avoiding Extensions Recessions Payroll Payroll Tax

Author:Mark Zandi

“There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly.”

Different Dark Flavor Scenarios Recessions

Author:Mark Zandi

“My policy is I will help any policymaker who asks, whether they be a Republican or a Democrat.”

Helping Asks Policy Republican Democrat

Author:Mark Zandi

“The Tea Party was born out of the disgust many Americans felt early in the financial crisis upon learning that the federal government was even contemplating reducing the principal on some troubled mortgages.”

Government Felt Born Party Crisis Financial Tea Contemplating Disgusting Principal Federal Government Reducing Mortgage Tea Party Financial Crisis

Author:Mark Zandi

“We need to get rid of the debt ceiling law. It's anachronistic and it's a problem.”

Needs Problem Law Debt Ceilings Debt Ceiling

Author:Mark Zandi

“They called me the sexiest economist in America, and that was years ago, when I had hair and body mass and my teeth were shiny.”

Years Body America Hair Mass Years Ago Teeth Economist Sexiest

Author:Mark Zandi

“The most important point is, in a time of crisis, there is no way out but for the government to be bold and aggressive.”

Way Important Government Crisis Aggressive Times Of Crisis

Author:Mark Zandi

About the Author

Born: 1959
Known for: Author
Quotes: 46

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