Housing Market Crash Quotes

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.

Cruz named Former Texas Senator Phil Gramm as his economic guru. This guy virtually crashed the U.S. economy. Gramm is largely responsible for two bills which led to the speculative bubble which popped in September 2008.

It's Obama's bad luck that he got elected just as the mayhem of the foreclosures, the banking collapse, and the General Motors disaster was accelerating the surge in unemployment to warp speed.

The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.

Remnants of the foreclosure crisis linger everywhere.

Housing was ground zero for the Great Recession. Between early 2006 and Obama's inauguration in 2009, average house prices fell by a third across the country. In certain areas, including cities as diverse as Akron, Orlando and Las Vegas, house prices fell by more than half.

Britain was set to repeat the boom-bust cycle that led to 15 per cent. interest rates for one whole year in the early 1990s.

Until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we're going to continue to have turmoil in the financial markets.

I got plenty of guesses wrong on things in the past as well. I don't want to pretend I have some great insight... But when the global financial crisis came along in 2008 it was scary times if you were in the middle of building $5 billion buildings. It wasn't perfect... I think that I am the luckiest person in Australia.

Nothing would assure a recession more than a significant drop in housing prices.

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.

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.

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

These days the American dream of home ownership has turned into a nightmare for millions of families. They wake every day to the reality of a horrible decline in the value of the home that has meant so much to them.

We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people couldn’t pay their mortgages because of $4 a gallon gasoline.

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.

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.

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

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

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!

We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.

As do most Koreans, Seoul residents consider the uncertainty related to housing to be the biggest threat to their livelihoods.