Housing Market Meltdown Not Over: Zandi

No, this guy is NOT credible. Because he doesn't work at a brokerage.

They need to talk to Douglas Elliman himself to get the TRUE situation.

Moody's hah.. weren't they the same dudes who highly graded these same assets in the good years. Something must have happened in the interim to make him credible. Oh sweet myopia, lube my jaws.

Not agreeing or disagreeing, as I have no clue where it'll go just brings me back to a question posed by some CNBC slut (Santelli was it?) about what exactly is an economist or regulator/ratings agent?

A: Someone not smart enough to get a front office job in the field for which he comments on or creates rules for. pffffft

Actually, Mark Zandi is a very well respected economist.

Hole. As opposed to all the front office guys that packaged these mortgage products, the nimrods that bought it, and the CEOs who blessed all the crap plugging up the toilet. OH shit u meanz those frnt office hos.

who said i'm choosing one over other? what differentiates FO from economists is that front office hoes are smart enough to know what they're doing. 2/20 hasn't turned into 1/10. the nimrods who bought it relied on ratings agency and 'economic' forecasts (read internet journalism) who got there info from media circle jerks or scraps from FO... oh shizzle nizzle all up in my dicksiclizzle (enter jargon to come off as nonchalant and 'edgy' to compensate for being over 35 years oldizzledizzle and maybe backofficeizzle)

steve, is this the same Zandi from last February???

U.S. Housing Market May Bottom in 2009, Zandi Says

Feb. 9 (Bloomberg) -- U.S. home prices will reach bottom by the end of the year, concluding a slide that will have cut values 36 percent, Moody’s Economy.com said today.

“Notwithstanding the intensifying economic gloom, the bottom of the housing downturn is within sight,” chief economist Mark Zandi said in a statement today. “Presuming we see strong action by policymakers to help support the economy and the housing market, prices will begin to recover by the end of this year.”

http://www.bloomberg.com/apps/news?pid=20601110&sid=a5.ODjRGkehQ

Zandi: Home prices will bottom in summer 2009:

http://www.usnews.com/money/blogs/the-home-front/2008/9/16/mark-zandi-on-the-housing-bottom.html

Zandi in 2006 (yes, Zandi actually called bottom in 2006!): Boston "is very close to the bottom," said Mark Zandi, chief economist for Moody's Economy.com. "If the price declines aren't over, they're pretty close to over."

http://www.boston.com/news/local/articles/2006/10/23/housing_prices_put_at_or_near_low/

Alpi, conditions change over time. I don't know what's happening in Boston.

well duh steve...but based on his record, why put weight in this guys forecasts?

This is precisely why I stopped listening to experts. Although I must admit that I'm a huge Krugman fan. Treasury Secretary Paul Krugman... now that is a dream!

omg too easy, im starting to feel bad

"Last month the Omaha administration extended the $8,000 first-time home buyer tax credit, added a $6,500 credit for home owners buying a new residence, and increased income limits. Eligible borrowers must sign contracts by April 30 and close loans by June 30."

Anyone know who the Omaha administration is?

i have a feeling this post will result as a backpocket sticky besides the 'stock market is ALWAYS a better investment' post whenever OP begins his ramblings..

how's the rental website going? hope all's well (no really).

"Actually, Mark Zandi is a very well respected economist."

Just another so called pundit looking for headlines if you ask me.

lol

Yes ... it's true... get ready for the second wave of the mortgage meltdown.

http://www.cbsnews.com/video/watch/?id=4668112n