It would undermine the housing market, and could quickly result in credit problems that would affect the entire (American) financial system.
More Quotes from Mark Zandi:
Confidence is a key part of what's happening in the economy and the market. You shouldn't underestimate the importance of symbolic moves like these.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
The economy is going to be hit hard by Katrina, and it is going to be hardest on consumers who are already stretched thin. With the surge in gasoline and home heating oil prices, consumers will have a difficult choice to make between filling their gas tank or spending on other things.
Mark Zandi
It is going to be a tough winter for many seniors. Not only will they face higher Medicare premiums, but record gasoline prices and higher home heating bills as well.
Mark Zandi
Here again, the business cycle will determine more than the commander in chief in the near term. There is very little the president can do to stimulate the job market quickly, ... but there is much the president can do to stimulate the job market long-run.
Mark Zandi
Housing has peaked. And all indications are that sales will weaken further in the months ahead.
Mark Zandi
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