Mark Zandi : (4)

" President Obama’s reelection started the countdown for lawmakers to address the fiscal cliff and the statutory debt limit. Unless the President and House Republicans can agree on changes to current law, the U.S. economy will be in recession by spring. " - Mark Zandi

" 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. " - Mark Zandi

" In the fourth grade, my history teacher gave us a project: Why was the auto industry located in Detroit, Michigan? I didn’t know I was going to be an economist, but I knew I was going to do something that was involved in answering questions like that one because I thought that was a fascinating question. " - Mark Zandi

" No one should expect the value of their house to appreciate quickly – counting on your home to be a significant part of your retirement saving isn’t a winning strategy – but it is reasonable to expect that prices generally will rise with at least the rate of inflation for some time to come. " - Mark Zandi