“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.” ShouldHas BeensPlayGovernmentStrongNationsRolesEconomyEvidenceFinanceInterventionMessyMortgageRecessionsGovernment InterventionGreat Recession 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.” WayMadeHardProblemTodayEasyMillionsEconomyCreatingFinancialCreditBubblesContrastHousingLoanCalamityMortgageRecessionsGreat RecessionHousing MarketHousing Bubble Author:Mark Zandi
“If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?” IfsThinkingWorldStillsRealActingAttentionEconomySawsEconomicTruth IsCrisisKillingPay AttentionFlatsOne TimeMortgageGlobal EconomyEconomic CrisisSyncReal TruthWorld Is FlatMortgage Crisis Author:Thomas Friedman
“The reality is that our economy now consists of driving 250 million vehicles around the suburbs and malls and eating fried chicken. We don't manufacture much. We just burn up ever scarcer petroleum in the ever-expanding suburbs built with mortgage money lent to people who haven't a clue.” PeopleRealityMillionsEconomyHavensEatingBuiltDrivingChickensVehicleConsumerismClueExpandingMortgageSuburbsMallsOverconsumptionFried ChickenPetroleum Book:Deer Hunting with Jesus: Dispatches from America's Class War Source: Deer Hunting with Jesus: Dispatches from America's Class War
“You know what higher interest rates mean. To you it means a higher mortgage payment, a higher car payment, a higher credit card payment. To our economy, it means business people will not borrow as much money, invest as much money, create as many new jobs, create as much wealth, raise as many raises.” KnowsMeanJobsInterestWealthEconomyCarHigherRaisesRateCreditCardsPaymentMortgageCredit CardNew JobInterest RateCar Payments Author:William J. Clinton
“Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.” ThinkingAbleEconomyRight NowLowsPercentSevenRateConsumersPocketsMore MoneyMortgageRefinance Author:Franklin Raines
“The single biggest stimulus to the economy are the unemployment benefits we're paying. These people go out and they spend the money. They go out and they have to get by to everything from paying their mortgage or buying food or just getting by. It has a significant impact on economic growth and the continuation of economic growth.” PeopleGrowthEconomyEconomicBenefitsImpactSignificantBuyingUnemploymentEconomic GrowthStimulusMortgageContinuationUnemployment Benefits Author:Joe Biden