Economists say that as housing markets begin to cool, bankruptcies are likely to increase. At some point you will get a combination of falling values combined with rising payments on adjustable mortgages, which will result in more bankruptcy, ... For these areas of the country that are enjoying such wonderful conditions right now, it will become much less wonderful a few years down the road.
More Quotes from Mark Zandi:
It would undermine the housing market, and could quickly result in credit problems that would affect the entire (American) financial system.Mark Zandi
if the financial markets were reeling and the images from the Gulf were getting worse instead of better, if energy prices were rising instead of falling. But given the economic data and financial markets, there's no reason to make a symbolic move.
Mark Zandi
It's better than it was but it's not as good as anywhere else. There are growing pockets of strength. Chicago, Kansas City, Minneapolis -- these are economies that had been severely depressed a few years ago and are now making their way back.
Mark Zandi
As the memory of the tech bust fades, we seem to be getting better and better job growth.
Mark Zandi
It does indicate that the second quarter was a disappointing quarter, ... Growth slowed sharply. Consumers became more cautious and our trade deficit ballooned. The economy was weighed down by higher energy prices.
Mark Zandi
If we get a string of bad data on inflation, the Fed will probably have to tighten for a bit longer.
Mark Zandi
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Based on Topics: Countries Quotes, Economics QuotesBased on Keywords: adjustable, bankruptcies, mortgages
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