The problem is the bottleneck. The industry simply is not able to process the applications fast enough. They (homeowners) are trying to refinance...But the increase in demand will simply increase the waiting list.
More Quotes from Sung Sohn:
Both consumer and business confidence is depressed because of uncertainty surrounding the war, ... If we can somehow bring closure to the war situation, I would expect confidence to improve dramatically, taking with it the economy and the stock market.Sung Sohn
That's why confidence is important. If it remains healthy, gains in sales will be high enough to offset the negatives coming from job cuts. It's a tug-of-war right now, job cuts are winning.
Sung Sohn
If the economy does not move out of the soft patch, monetary policy could be on hold beginning September until the economy shows signs of renewed strength.
Sung Sohn
For every 10-percent appreciation in the dollar, it cuts inflation by one full percentage point, assuming the strength of the dollar is sustained,
Sung Sohn
The Fed is still likely to cut rates in August. Some of the more important measures of economic strength, such as corporate profits, are moving in the wrong direction. The only real question is whether they'll cut a quarter percentage point or a half percentage point.
Sung Sohn
If you want to really help the economy right away, the fastest way to do that is to have the government spend the money itself, ... The next step would be to give tax cuts to low- and middle-income people, who are more likely to spend the money.
Sung Sohn
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Based on Topics: Business & Commerce QuotesThose who know how to think need no teachers.
Mohandas Gandhi
We need to become energy independent or at least aspire to that.
Thomas Friedman
It's great when you find somebody you're compatible with, but I'm really into separate bedrooms. You live your life and I live mine.
Claudia Christian