Normally when you talk about housing bubbles bursting, you're talking about a specific local market. But we've never had a nationwide run-up in home prices like this. I don't think it's realistic to think the decline won't also be national. I think a 15 percent nationwide decline is very plausible. In many bubble areas, could be looking at 20-25, maybe 30 percent declines. |
On this policy, the district is already in compliance with the requirements and has been for a couple of years, ... This policy just formalizes it. |
People are always trying to explain the lack of questions as saying there's a consensus around monetary policy, but there's anything but a consensus on monetary policy. What upsets me more than anything is no one is asking serious questions. |
People are really stretched. They are banking on everything turning out right for them. That they won't lose their jobs, that they won't run into unexpected expenses. They're betting that the housing market will continue to appreciate. |
People are willing to pay them because there is an expectation that prices will continue to rise. Once people don't have that expectation, things will change. |
People talk about Nixon going to China -- you had this hard-line anti communist helping build up relationships with China, I would say it was like that only 5 times as much. |
Saving Social Security with Stock: The Promises Don't Add Up. |
The biggest surprise to me has been that interest rates have stayed as low as they have as long as they have. |
the collapse of the housing bubble, implying a drop of between 11 and 22 percent in the average of housing prices, [that] will destroy between $1.3 trillion and $2.6 trillion in housing wealth. |
The idea that we have to make cuts imminently because of the Baby Boomer generation is simply not true, ... We knew about Boomers and adjusted the program accordingly. Greenspan is really off the mark. |
The idea that we have to make cuts imminently because of the Baby Boomer generation is simply not true. We knew about Boomers and adjusted the program accordingly. Greenspan is really off the mark. |
The optimistic scenario gives you about 2 million jobs next year -- about 180,000 a month. If I had to make my best bet, I'd say we'll have level home prices and growth of about 1.5 percent for the year. There'll be job creation of about 80,000 or 90,000 a month. |
The problem is that few people recognize it for the gamble that it is. |
The trustees' projections continue to show that the major threat to the economic well-being of future generations is rising health-care costs. |
There has never been a run up in home prices like this. |