Dean Baker
Dean Baker
Dean Bakeris an American macroeconomist and co-founder of the Center for Economic and Policy Research, with Mark Weisbrot. He has been a senior economist at the Economic Policy Institute and an assistant professor of economics at Bucknell University. He has a Ph.D. in economics from the University of Michigan...
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bubble data home mortgage numbers sign since timely
These monthly numbers are very erratic. It can be that this is a sign (of the bubble bursting), but I would never make too much of one month's number. Especially since the other timely data we get, the mortgage applications for home purchases, have still been pretty high.
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is kind of (the oil companies') good luck. They didn't do anything to earn it. And we're sitting here with a $150 billion bill from Katrina.
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First of all, it's very expensive to administer private accounts, especially if you let people manage these accounts themselves, ... Bush is vague on how he would set it up and make it work.
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Saving Social Security with Stock: The Promises Don't Add Up.
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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.
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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.
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I've always thought you'll have the movement in price before you'll see it on quantity side, ... As long as the price remains high, if you're a builder, you want to get the houses up in order to cash in.
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It does pull a lot of money out of people's pockets. Even if it doesn't go back up much, it translates to a 50-to-60-cents-a-gallon gas tax. But for the borrowing that people were willing to do, it probably would have led to recession.
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We're building at a 2 million-a-year pace, which is more than demand, and we're going to keep building at that pace until home prices correct, ... It's already showing up in the rental market, oversupply is pushing down rental prices.
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Hawaii's home prices suffered in the 1990s because of economic trouble in Japan, ... If home prices in California reverse, it will have ripple effects.
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WE WERE shocking today and were given a lesson in finishing as they had nine chances and took six of them.
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Builders will keep building as long as they can keep getting these prices. But I think there's a glut developing clearly in some markets and that clearly will put downward pressure on prices.
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I wouldn't necessarily predict this would be a trigger, but I wouldn't rule it out either. It wouldn't surprise me if you see money leaving the secondary mortgage market, leading housing prices to fall.