When the government has a high budget deficit, it needs to borrow money at a greater rate, which it does by issuing bonds. What you see is the government competing with corporations in the bond market, which means something has to give, ... crowding out effect.
More Quotes from David Lereah:
For the rest of 2002, we're not expecting any big movements in the month-to-month sales pace, but we still expect above-normal rises in home prices due to a persistence of lean housing inventories on the market,David Lereah
Some of the cooling is coming from non-boom markets such as Detroit, where there are job problems. I do worry about those markets if the economy continues to slow, though we do expect the economy to pick up in the first quarter.
David Lereah
This means a modest slowing can be expected in the sales pace in the months ahead, although the market will hold at historically strong levels.
David Lereah
There are still lean inventories in a lot of the hot markets and that's why I have a lot of confidence that these balloons won't burst. They're balloons, not bubbles.
David Lereah
Modeling a relationship between economic and commercial market indicators, as well as market trends and sentiment, will provide us with a new tool in assessing market behavior in the major commercial real estate sectors. It is being designed as an index to provide early signals of turning points between expansions and slowdowns in commercial real estate activity.
David Lereah
This is a very tight inventory situation, which is continuing to drive home price appreciation.
David Lereah
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