Mark Zandi Quotes

I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression.

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures.

What began as a subprime lending problem has spread to other, less risky mortgages and contributed to excess home inventories that have pushed down home prices for responsible homeowners.

When I saw houses in Palmdale going for $500K, I knew something was wrong. If you got foreclosed, I don't feel sorry for you!

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.

You could argue that Barack Obama faced in '08 a situation as bad as any president since the Great Depression. What Obama inherited from the Bush administration, we all remember, was just an absolute global catastrophe.

Remnants of the foreclosure crisis linger everywhere.

When the housing market fell in Las Vegas, we got so many Rolex and Tag Heuer watches it was ridiculous.

In fact, Donald [Trump] was one of the people who rooted for the housing crisis.

House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all kinds of accesses entered into it. But that is what - that is the single biggest cause of why we're here.

In 2007, in the early 2007, everybody saw the housing market was falling, and at any given moment a lot of people thought it was going to fall more, and a lot of people thought it was going to rebound. You just didn't know.

Money in property is dead money. It doesn't help the country. It's funny how the U.K., Ireland and Spain are the most property-obsessed nations in Europe and yet are also the ones suffering the most.

Wall Street excesses helped lead to the Great Recession.

Admit it America - 2008 was our national 'oops' moment!

What happened in 2008 stopped people in their tracks. People stopped looking at their homes simply as commodities to exploit and starting thinking about how they might personalise that space and make them less bland and more autobiographical, and that's healthy, I think.

It has become fashionable to rail against government intervention in the economy, and the FHA is a favorite example by those trying to show the government's overreach. In reality, the FHA shows how government action during the Great Recession forestalled a much worse economic fate.

The impact of the downturn is starting to feel very real. House prices and the housing market have been taking the knock for some time and that's affecting people.

By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.

Americans now know that housing prices can go down and they can go down by 10, 20, 30, and in some cases, 40 or 50 percent. We know they can go down. But five years ago, we thought they could only go up.

The housing market will get worse before it gets better.

In 2008, when the real estate market blew up, it principally hurt older people who saw the value of their houses go down, along with their pension plans.

So much value has been lost in the housing market that people are now buying. If there's any activity in the housing market, it's because values have plummeted to such depths that the 47% can now afford to live in a government-purchased house, or something like that.

Foreclosures are a significant problem; they're an economic problem.

With every year that passes, the more we have to be careful not to forget the causes and consequences of the Great Recession.

Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations.