An overheating economy, characterized by accelerating inflation and rising interest rates, is another precondition for recession. This doesn't describe today's economy.

There is a banking adage that if it's growing like a weed, it's a good chance that it's a weed.

Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?

There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments.

Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife.

A home is still the biggest asset that most Americans own.

I've done work for both Democrats and Republicans.