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Latest Mark Zandi Stories

2009-09-16 09:02:52

Sen. Johnny Isakson, R-Ga., has proposed expanding federal tax credits for home buyers that economists say have stimulated home sales at a critical juncture. Isakson sponsored the first bill, an $8,000 tax credit for first time home buyers that the National Association of Realtors said was the catalyst for 350,000 sales this year. Moody's Economy.com set the number of home sales at 400,000 that would not have occurred without the tax credit in place, The New York Times reported Wednesday....

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2009-08-26 08:10:04

The reappointment of Ben Bernanke as Federal Reserve chairman and positive home price and consumer confidence reports point toward a recovery, economists say. The nation seemed on the brink of a second Great Depression last fall with the collapse of the Wall Street investment firm Lehman Brothers, but even though many ordinary people won't see signs of recovery yet, economic indicators are pointing to the end of recession, USA Today reported Wednesday. Bernanke deserves a significant amount...

2009-06-22 07:44:35

High unemployment is likely to haunt the U.S. economy for years to come, a leading U.S. economist said. Unemployment won't peak until this time next year, and then it will remain very high through next year, said Mark Zandi, chief economist at Moody's Economy.com, told The Washington Post in an interview published Monday. Zandi predicted it would take years to reverse the massive U.S. job losses, which have totaled 5.7 million since December 2007. It won't get back to full employment until...

2009-05-25 07:26:07

The wave of U.S. housing foreclosures is being amplified as once-creditworthy homeowners lose their jobs and fall behind on mortgage payments, experts say. The development is shifting the pattern of foreclosures from those who took advantage of risky subprime or other exotic mortgages to the far more common prime loans granted to applicants with acceptable financial histories, The New York Times reported Monday. We're about to have a big problem, Morris Davis, a real estate expert at the...

2009-04-06 07:27:37

The number of U.S. consumers falling 30 days behind on their short-term loans rose to a record 4.2 percent in the fourth quarter, the U.S. Federal reserve said. An additional 4 percent of consumer loans -- including credit card, home and car loans -- fell into default, a category that describes loans lenders have given up trying to recoup, USA Today reported Monday. In March, the U.S. unemployment rate rose to 8.5 percent on the loss of 663,000 jobs, a sign that the wheels have fallen off the...

2009-01-09 17:22:00

WASHINGTON, Jan. 9 /PRNewswire-USNewswire/ -- Since a decline in overall demand is the main cause of rising unemployment and the weak economy, the economic recovery package should focus on putting money in the hands of people who will spend it quickly, according to the Center on Budget and Policy Priorities. Most economists agree that two cost-effective ways to do this are by helping hard-pressed families, such as those with low incomes and those that have experienced layoffs, and helping...

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2008-12-04 12:34:32

Plans for energy-efficient cars, fewer showrooms and shared sacrifice were aired Thursday by the three U.S. automakers seeking emergency funding from Congress. Chief executives told the U.S. Senate Banking Committee that they needed bridge financing to help them whether tough financial times brought on by the swooning U.S. economy, telling the panel that they would agree to be subject to a decision-making, proactive, government-appointed board that the Government Accounting Office...

2008-12-01 12:35:36

A U.S. stimulus package that spent directly on projects would have a multiplying benefit on the economy, a prominent economist has said. Mark Zandi, chief economist at Moody's Economy.com said every dollar spent on projects generates $1.50 in economic output, The New York Times reported Monday. Dollars spent on projects turn into salaries, which are spent in stores. The stores then hire workers to keep up with the increased business, creating a multiplier effect, the Times said. A stimulus...

2008-11-26 06:45:37

The number of U.S. citizens receiving food stamps could surpass 30 million this month, federal officials said. The U.S. Department of Agriculture is scheduled to release food stamp numbers by the end of the month and wouldn't confirm the 30 million figure, which was divulged in a meeting with state officials in October, The Washington Post reported Wednesday. The 30 million mark would surpass the previous high set in the months following Hurricane Katrina in 2005, the Post reported. The...

2008-09-09 09:00:15

By MICHAEL CORKERY By Michael Corkery The Wall Street Journal The government takeover of Fannie Mae and Freddie Mac probably will help ease mortgage interest rates for homebuyers, say economists, home builders and housing experts. But it won't cure the housing market's biggest ailments: falling home prices and rising foreclosures. "This is another marginal step in the right direction," said Richard DeKaser, an economist at National City Corp., a large Cleveland bank. "But it doesn't...


Word of the Day
jument
  • A beast of burden; also, a beast in general.
'Jument' ultimately comes from the Latin 'jugum,' yoke.
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