Saturday, September 18, 2010

Roubini, Zandi: Mortgage defaults as economic therapy

 source :
By Howard Schneider

Top economists Nouriel Roubini and Mark Zandi took the stage at an International Monetary Fund conference room on Friday and presented a novel spin on the mortgage defaults still plaguing the home industry: they may be "therapeutic." Instead of letting the housing market continue to bleed out slowly for years to come, they should be accelerated so that home prices and household equity can start to recover, Roubini and Zandi said..
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