The biggest surprise to me has been that interest rates have stayed as low as they have as long as they have.
"Dean Baker" is an United States/American macroeconomist and co-founder of the Center for Economic and Policy Research, with Mark Weisbrot. He previously was a senior economist at the Economic Policy Institute and an assistant professor of economics at Bucknell University. He has a Ph.D. in economics from the University of Michigan.
Since 1996 Baker has been the author of a weekly online commentary on economic reporting. The Economic Reporting Review was published from 1996 to 2006; subsequently he has continued this commentary on his weblog Beat The Press, which was formerly published at The American Prospect, but is now located at the CEPR website.
More Dean Baker on Wikipedia.Let's imagine rates go to 7 percent, I think that would take the air out of the bubble pretty quickly.
I've always thought you'll have the movement in price before you'll see it on quantity side, ... As long as the price remains high, if you're a builder, you want to get the houses up in order to cash in.
It's just prudent to have a chemical safety program, ... We don't want to have a sterile leaning environment, we want kids to have a rich learning environment while keeping them safe, that's the same issue every school faces.
Normally when you talk about housing bubbles bursting, you're talking about a specific local market. But we've never had a nationwide run-up in home prices like this. I don't think it's realistic to think the decline won't also be national. I think a 15 percent nationwide decline is very plausible. In many bubble areas, could be looking at 20-25, maybe 30 percent declines.
[Consumer prices are likely to catch up eventually, say economists.] I'm not a big inflation hawk, ... but consumers are almost certainly going to be paying more.
Home prices are going through the roof, forcing people to turn to exotic loans and unorthodox financing. These people have no room for error.
On this policy, the district is already in compliance with the requirements and has been for a couple of years, ... This policy just formalizes it.
It's clearly very strong across the board. There's no evidence of any downturn at this point.
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