We’re getting job creation in healthcare and educational services. We’ve been getting that all along. It’s demographically driven, it’s funded by the government, and that’s held up.
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Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife.
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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.
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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.
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Today's Anniversary - 23rd November
Births
- 1896 - Klement Gottwald
- 1974 - Saku Koivu
- 1926 - Sri Sathya Sai Baba
- 1773 - Lord Jeffrey
- 1911 - Marjorie Pay Hinckley
Deaths
- 1821 - Sir James Mansfield
- 1995 - Louis Malle
- 1992 - Roy Acuff
- 1991 - Klaus Kinski
- 2001 - Mary Whitehouse
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