Mark Zandi
Mark Zandi
Mark Zandi is chief economist of Moody's Analytics, where he directs economic research. He is co-founder of Economy.com, which was acquired by Moody's Analytics in 2005. Prior to founding Economy.com, Zandi was a regional economist at Chase Econometrics...
NationalityAmerican
ProfessionEconomist
CountryUnited States of America
affect credit entire financial housing problems quickly result undermine
It would undermine the housing market, and could quickly result in credit problems that would affect the entire (American) financial system.
economy economy-and-economics fault greenspan housing indeed line undermine worried
Housing is a fault line in the economy that Greenspan is indeed worried about, but he doesn't think a housing (slowdown) will undermine the expansion.
fans growth time undermines
It undermines growth at the same time that it fans inflation.
growth job market tech until year
This should be a year where the tech market stabilizes but I don't see job growth until 2004.
among belongs causing decade giant house housing plenty prices soar
There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren't among them.
couple expanding housing less next quite region rest
This region is expanding not quite as much as the rest of the country. We will see much less housing activity, especially in the next couple of years.
across banks central cover due energy fears gives global globe inflation lift policy prices
There has been a global pick-up in inflation due to the surge in energy prices, and that gives cover for US manufacturers to lift their prices more aggressively. Central banks across the globe are tightening policy in fears that the surge in energy prices will infect inflation more broadly.
decline percentage
You have to go back 25 years to find a decline that is as significant on a percentage basis.
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As the memory of the tech bust fades, we seem to be getting better and better job growth.
areas combined conditions country enjoying falling few less point result rising values wonderful
At some point you will get a combination of falling values combined with rising payments on adjustable mortgages, which will result in more bankruptcy. For these areas of the country that are enjoying such wonderful conditions right now, it will become much less wonderful a few years down the road.
alone coffee imports orleans port tons
The Port of New Orleans alone imports 250,000 tons of coffee every year.
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Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
economy economy-and-economics gets good longer next obvious step
Broadly speaking, the economy is in a pretty good place. But it's no longer obvious what the next step should be. Now it gets a lot more complicated.
coast confident due energy expansion gulf higher impact indication job market outside remain
There is no indication that the job market outside of the impacted Gulf Coast has skipped a beat. The hurricanes are having an impact due to the higher energy prices, but I think we can be confident the expansion will remain on track.