#housing

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

— Mark Zandi

#finds #footing #going #housing #housing market

The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control. ↗

— Mark Zandi

#came #control #fiasco #housing #industry

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

#because #below #currently #distressed #fall

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

#around #belongs #blame #bubble #causing

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. ↗

— Mark Zandi

#broader #bubble #calamity #contrast #creating