More From Mark Zandi
- "The Tea Party was born out of the disgust many Americans felt early in the financial crisis upon learning that the federal government was even contemplating reducing the principal on some troubled mortgages."
- "It is hard to be enthusiastic about the economy’s prospects when house prices are falling: Households spend less, small business owners can’t use homes as collateral for loans and local governments are forced to cut jobs and programs as property-tax revenue disappears."
- "It’s time to pull the bandage off America’s foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed."