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.

D. S. His surname of "Zandi" comes from the Zand dynasty (formally known as the Zandieh dynasty) which ruled southern and south-central Iran (1750–1794) in the eighteenth century.

Prior to founding Economy. He attended Upper Merion High School where he earned his diploma.