This reflects the low interest rates we saw earlier in the summer. While I wouldn't say that a major contraction is imminent yet, I suspect this is close to being the last hurrah.
More Quotes from Paul Kasriel:
Every time we think the bond market is acting irrationally, we usually find out a month or two later that it was rational, that some people participating in the bond market knew more than most of us economists did -- which is not really a great feat.Paul Kasriel
You're essentially renting from your bank with an option to buy,
Paul Kasriel
There may be somebody else taking the baton now, which is not unusual in a recovery. Housing is typically the leader out of the desert to the promised land but, just like Moses didn't make it to the promised land, as rates rise, housing doesn't quite make it, either. Other sectors do.
Paul Kasriel
In 1987 we had a sharp increase in long-term interest rates and a stock market crash when there was a run on the dollar. While a lot of people think a weaker dollar is a good thing, it essentially makes us poorer and turns out not to be a good thing.
Paul Kasriel
It seems that what it allows you to do is ... stay in business with somewhat of an unfair advantage over your competitors, who still do have to pay their debts and pay interest on those debts.
Paul Kasriel
Households have not meaningfully repaired their balance sheets since the onset of the last recession. Households are not 'better positioned' than they were earlier to boost outlays as their wariness about the economic environment abates. If anything, they are more poorly positioned to do so.
Paul Kasriel
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Based on Topics: Summer QuotesBased on Keywords: hurrah
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