Quotes & Sayings About The Housing Bubble

When I hear [about a housing bubble] I get the sense that people aren't connecting the dots. — James K. Glassman

A global financial cabal engineered a fraudulent housing and debt bubble [2008], illegally shifted vast amounts of capital out of the US; and used 'privatization' as a form of piracy - a pretext to move government assets to private investors at below-market prices and then shift private liabilities back to government at no cost to the private liability holder Clearly, there was a global financial coup d'etat underway. — Catherine Austin Fitts

In fact, I'd say that the sources of the economy's expansion from 2003 to 2007 were, in order, the housing bubble, the war, and - very much in third place - tax cuts. — Paul Krugman

There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren't among them. — Mark Zandi

Presidential money is almost like the housing bubble. It's growing at such an astronomical rate, you think it can't get any bigger. — Chuck Todd

In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months. — Marc Faber

Some societies are also more optimistic than others: the U.S. and Australia are my two picks Tell a European you think there's a housing bubble and you'll have a reasonable discussion. Tell an Australian and you'll have World War III. Been there, done that! — Jeremy Grantham

Many of the overlapping crises in American life, from our foreign policy disasters to the housing bubble to the rate of out-of-wedlock births, can be traced to the impulse to emphasize one particular element of traditional Christianity - one insight, one doctrine, one teaching or tradition - at the expense of all the others. The goal is always progress: a belief system that's simpler or more reasonable, more authentic or more up-to-date. Yet the results often vindicate the older Christian synthesis. Heresy sets out to be simpler and more appealing and more rational, but it often ends up being more extreme. — Ross Douthat

A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble — Paul Krugman

Major labels just lost their way. It's like the housing bubble. They lost a sense of the fundamentals. — Win Butler

Back in July 2003, he'd written them a long essay on the causes and consequences of what he took to be a likely housing crash: "Alan Greenspan assures us that home prices are not prone to bubbles - or major deflations - on any national scale," he'd said. "This is ridiculous, of course ... . In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default. During the 1930s, housing prices collapsed nationwide by roughly 80%. — Michael Lewis

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts. — Ron Paul

Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates. — Ben Bernanke

Consider the recent financial crisis and its link to faulty reward systems. President Bill Clinton's objective of increasing homeownership by rewarding potential home buyers and lenders is one example. The Clinton administration "went to ridiculous lengths" to increase homeownership in the United State, promoting "paper-thin down payments" and pushing lenders to give mortgage loans to unqualified buyers according to Business Week editor Peter Coy. — Max H. Bazerman

This is part of the reason that the AIG bailout is so troubling: when at least $13 billion worth of taxpayer money given to AIG in the bailout ultimately went to Goldman, some of that money was doubtless going to cover the bets Goldman had made against the stuff the bank itself was selling to old people and cities and states. In other words, Goldman made out on the housing bubble twice: it fucked the investors who bought their horseshit CDOs by betting against its own crappy product, then it turned around and fucked the taxpayer by making him pay off those same bets. — Matt Taibbi

. . . the bond bubble, the tech bubble, the stock bubble, the emerging markets bubble, the housing bubble. . . One by one they had all burst, and their bursting showed that they had been temporary solutions to long-term problems, maybe evasions of those problems, distractions. With so many bubbles-so many people chasing ephemera, all at the same time-it was clear that things were fundamentally not working. — Peter Thiel

Increasing access to federal student loans has been a bipartisan effort in Washington, one that I have supported. But it has created what many experts believe is a bubble in higher education, not unlike the housing bubble that preceded the financial crisis. — Marco Rubio

Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy. — Mark Zandi

Globalization replaced technology as the hope for the future. Since the '90s migration "from bricks to clicks" didn't work as hoped, investors went back to bricks (housing) and BRICs (globalization). The result was another bubble, this time in real estate. — Peter Thiel

We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people couldn't pay their mortgages because of $4 a gallon gasoline. — Rick Santorum