Mark Zandi Time Quotations

It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.

Fundamentally, though, it stems from the fact that China will post a $250 billion surplus on its trade with the United States this year and there's simply no sign of that easing any time soon.

Part of the problem that all of tech is having with respect to jobs is they significantly over-hired during the boom times and to some degree the past few years has been payback for overaggressive hiring. But I think that process is largely over and we should see slightly better job growth in tech by this time next year.

It depends on your time frame. For the next few months, it's decidedly a negative event. But in a year or so, the effects will likely have faded.

It would take time for that to occur and during this period of adjustment -- some things might not get done -- maybe some crops won't be picked or some hotel rooms won't get cleaned.

The baby boom echo generation is now in their mid-teens, at a time when demand for electronics is very high. And they're old enough now to put pressure on their parents to ante up. I know that from personal experience.

It undermines growth at the same time that it fans inflation.

It is time to move on. House prices won't rise and the economy won't fully engage until more distressed properties are resolved and put back into ordinary use.