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
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.
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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 - 29th April
Births
- 1929 - Maurice F. Strong
- 1922 - Toots Thielemans
- 1944 - Richard Kline
- 1932 - King Hu
- 1930 - Sol Wachtler
Deaths
- 1993 - Mick Ronson
- 1827 - Rufus King
- 1894 - Joseph Kirkland
- 1937 - William Gillette
- 1951 - Ludwig Wittgenstein
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