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.
Mark Zandi Quotes
It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.
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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
- 1984 - Lucas Grabeel
- 1926 - Sri Sathya Sai Baba
- 1934 - Robert Towne
- 1887 - William Henry Pratt
Deaths
- 1990 - Roald Dahl
- 2001 - Mary Whitehouse
- 1992 - Roy Acuff
- 1991 - Klaus Kinski
- 1995 - Louis Malle
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