In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.
Mark ZandiThey called me the sexiest economist in America, and that was years ago, when I had hair and body mass and my teeth were shiny.
Mark ZandiDistressed properties are often vacant and in disrepair, and thus sold at significant discounts. As the share of distressed sales grows, home prices fall.
Mark ZandiPast experience with fiscal austerity at home and overseas strongly suggests that it is best for the economy's long-run performance to restrain government spending rather than raise taxes.
Mark Zandi