Our biggest challenge is to eliminate the popular perception that economists don't have anything useful to say.
Mark ZandiHousing was ground zero for the Great Recession. Between early 2006 and Obama's inauguration in 2009, average house prices fell by a third across the country. In certain areas, including cities as diverse as Akron, Orlando and Las Vegas, house prices fell by more than half.
Mark ZandiIt has become fashionable to rail against government intervention in the economy, and the FHA is a favorite example by those trying to show the government's overreach. In reality, the FHA shows how government action during the Great Recession forestalled a much worse economic fate.
Mark ZandiThe extension and expansion of the payroll tax holidays for workers would be number one on my list and key to avoiding recession.
Mark Zandi