Dean Baker
Dean Baker
Dean Bakeris an American macroeconomist and co-founder of the Center for Economic and Policy Research, with Mark Weisbrot. He has been 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...
bubble housing promoted
He consciously promoted the housing bubble as a way of boosting the economy.
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He was the one who had the courage to let the unemployment rate fall. Very few people thought the unemployment rate could fall that low.
best creation gives growth home jobs level million next optimistic percent prices scenario year
The optimistic scenario gives you about 2 million jobs next year -- about 180,000 a month. If I had to make my best bet, I'd say we'll have level home prices and growth of about 1.5 percent for the year. There'll be job creation of about 80,000 or 90,000 a month.
home prices run
There has never been a run up in home prices like this.
air bubble imagine rates
Let's imagine rates go to 7 percent, I think that would take the air out of the bubble pretty quickly,
housing leading leaving money mortgage predict prices rule secondary surprise
I wouldn't necessarily predict this would be a trigger, but I wouldn't rule it out either. It wouldn't surprise me if you see money leaving the secondary mortgage market, leading housing prices to fall.
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is kind of (the oil companies') good luck. They didn't do anything to earn it. And we're sitting here with a $150 billion bill from Katrina.
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These monthly numbers are very erratic. It can be that this is a sign (of the bubble bursting), but I would never make too much of one month's number. Especially since the other timely data we get, the mortgage applications for home purchases, have still been pretty high.
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Saving Social Security with Stock: The Promises Don't Add Up.
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People are willing to pay them because there is an expectation that prices will continue to rise. Once people don't have that expectation, things will change.
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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.
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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.
bubble bubbles decline home housing local looking maybe normally percent prices realistic specific talk talking
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.
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First of all, it's very expensive to administer private accounts, especially if you let people manage these accounts themselves, ... Bush is vague on how he would set it up and make it work.