Mark Zandi
![Mark Zandi](/assets/img/authors/mark-zandi.jpg)
Mark Zandi
Mark Zandi is chief economist of Moody's Analytics, where he directs economic research. He is co-founder of Economy.com, which was acquired by Moody's Analytics in 2005. Prior to founding Economy.com, Zandi was a regional economist at Chase Econometrics...
NationalityAmerican
ProfessionEconomist
CountryUnited States of America
coast moving people
In Florida, people are moving up the coast
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I think the Fed will get rid of the reference about what to do in the future. I think they will make the statement as plain vanilla as possible, and they won't try to send a strong signal one way or the other.
policy tricky
So far, it's weakening, not caving. But it's been a tricky policy to deflate housing, not crater it.
deals fair
It's fair to say there will still be deals right through the summer.
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It would take time for that to occur and during this period of adjustment -- some things might not get done -- maybe some crops won't be picked or some hotel rooms won't get cleaned.
businesses question whether
It's not a question of whether businesses can expand; it is a question of their willingness.
katrina question
Katrina is going to muck things up; it's just a question to what degree.
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I think what we have in store is a slow deflating of the housing bubble, not a bursting of the bubble. But if mortgage rates rise more sharply than I am expecting, then the downturn in housing could be more severe.
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The housing market is fading fast and the prospect is it will weaken further as rates move higher.
answering auto fourth gave history industry involved knew teacher
In the fourth grade, my history teacher gave us a project: Why was the auto industry located in Detroit, Michigan? I didn't know I was going to be an economist, but I knew I was going to do something that was involved in answering questions like that one because I thought that was a fascinating question.
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This region is expanding not quite as much as the rest of the country. We will see much less housing activity, especially in the next couple of years.
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The potential for even higher energy prices is a risk to the economic outlook. The economy has digested the higher prices gracefully so far. But it can get a bit of indigestion if prices move higher.
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We are a very low-cost area in a very high-cost region. Housing values have risen here, but not nearly as much as in other parts of the country.
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This suggests that the economy has largely shrugged off the ill effects of the hurricanes. Christmas will turn out better than expected.