The way it hurts is when housing prices peak and then we no longer have this wealth effect that has been driving consumer spending. And so far, housing prices are growing at double-digit rates. But it's going to happen sometime, and we think it's going to happen probably starting in the second quarter.
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This quote is just one of 5 total Patrick Newport quotes in our collection. Patrick Newport is known for saying 'The way it hurts is when housing prices peak and then we no longer have this wealth effect that has been driving consumer spending. And so far, housing prices are growing at double-digit rates. But it's going to happen sometime, and we think it's going to happen probably starting in the second quarter.' as well as some of the following quotes.
The way it hurts is when housing prices peak and then we no longer have this wealth effect that has been driving consumer spending. And so far, housing prices are growing at double-digit rates. But it's going to happen sometime, and we think it's going to happen probably starting in the second quarter.
They're all generally telling the same story. Activity is still fairly strong but it's declining. They're going to be a drag on gross domestic product.
This quote is just one of 5 total Patrick Newport quotes in our collection. Patrick Newport is known for saying 'The way it hurts is when housing prices peak and then we no longer have this wealth effect that has been driving consumer spending. And so far, housing prices are growing at double-digit rates. But it's going to happen sometime, and we think it's going to happen probably starting in the second quarter.' as well as some of the following quotes.