Mark Zandi Bubble Quotations

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.

If Greenspan had been stronger in his views, then the bubble would not have been as large and the subsequent correction not as severe.