#be

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. ↗

— Mark Zandi

#against #become #during #economic #economy

It is easy to be pessimistic. These are extraordinarily difficult times, and the collective psyche is teetering. But we are closer to righting the wrongs that got us into this economic mess than most of us believe. ↗

— Mark Zandi

#closer #collective #difficult #difficult times #easy

It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed. ↗

— Mark Zandi

#bandage #began #crisis #dark #economy

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? ↗

— Mark Zandi

#before #borrower #borrowers #credit #debt

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? ↗

— Mark Zandi

#better #buyers #choice #cost #costs

I wondered what my father had looked like that day, how he had felt, marrying the lively and beautiful girl who was my mother. I wondered what his life was like now. Did he ever think of us? I wanted to hate him, but I couldn't; I didn't know him well enough. Instead, I wondered about him occasionally, with a confused kind of longing. There was a place inside me carved out for him; I didn't want it to be there, but it was. Once, at the hardware store, Brooks had shown me how to use a drill. I'd made a tiny hole that went deep. The place for my father was like that. ↗

— Elizabeth Berg

#beauty

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. ↗

— Mark Zandi

#attractive #average #average american #become #becomes

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

— Mark Zandi

#expansion #extension #holidays #key #list

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. ↗

— Mark Zandi

#although #been #demonstrates #during #economy

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