Wall Street Journal

  • The Wall Street Journal, September 22, 2008, “New Backdrop for Old Story in Home Sales

  • The Wall Street Journal, April 25, 2008, “U.S. Agency Helps Prop Up Housing Market

  • The Wall Street Journal, February 29, 2008, Borrowers Abandon Mortgages as Prices Drop
    “If they haven't lived in [the home] very long and haven't put any cash in it, it's a lot easier to walk away.”

  • The Wall Street Journal, January 29, 2008, NAR Campaign Touts Real Estate as a Great Investment
    “You don’t leave out leverage in making an investment... [home prices are on a downslide and] from an investment perspective, the biggest return on your house is getting to live in it.”

  • The Wall Street Journal, November 30, 2007,They'll Take Manhattan - - For Less
    "I certainly don't think Manhattan is recession-proof. History just says that's a wrong argument"

  • The Wall Street Journal, November 7, 2007
    Dump This House: Unloading Your Property in a Slow Market
    "The best scenario is that prices fall through the spring and then stabilize, but I'm more pessimistic than that. I would sell now."

  • The Wall Street Journal, August 10, 2007
    A New World Disorder for Debt Traders
    "The downside of spreading the risk is that when the problems get big enough, it affects all markets regardless of the fundamentals.”
  • The Wall Street Journal, August 6, 2007
    Braving the Subprime Storm

    "When you fund things with CDOs [collateralized-debt obligations], they become correlated, because they're all funded from a single place.”

  • The Wall Street Journal, July 19, 2007
    For Wall Street, Subprime Story is Unfamiliar
    "The problem is that Wall Street's experience with subprime mortgages isn't deep. Its experience with the exotic mortgages written in the late stages of the housing boom is essentially nonexistent. That makes their reaction to the housing downturn impossible to predict. This story is going to be going on for a long time. There's no way to fast forward the process."

  • The Wall Street Journal, March 11, 2007
    In Superstar Cities, Only Superstars Can Make Super Rent

  • The Wall Street Journal, December 11, 2006
    The Other Real Estate Boom
    "REIT valuations are just so high relative to other assets that the sector as a whole is really susceptible to a shift in investor sentiment."

  • The Wall Street Journal, October 18, 2006, ECONOBLOG with Celia Chen, Moody's Economy.com and Susan Wachter, Wharton School
    "How Could the Housing Slump Affect the Nation's Economy?"
    "The housing market has never been more at risk of a crash if the economy falters or interest rates rise."

  • The Wall Street Journal, October 9, 2006
    Bad Loans Draw Bad Blood
    "While 'not serious' at this point, the buybacks the first real test of the modern mortgage market. This will continue to be an issue even in the case of a 'soft landing' in real estate.

  • The Wall Street Journal, September 11, 2006
    Going, Going, Gone...
    “Americans have it backward. Auctions work best in strong markets when there are plenty of determined bidders to push the price up. Indeed, in Australia, where auctions account for about a fifth of all home sales, auctioneers get more business in rising markets than in falling ones.  During a downturn, buyers think one thing: big discount. If bidding is tepid, homes could end up selling at large discounts to their real value. While the owner often reserves the right not to sell if the bids are too low, a failed auction could leave a home "tainted," making it seem undesirable. Instead of using auctions, homeowners who need to sell quickly should price their homes "aggressively" low in relation to competing properties.”

  • The Wall Street Journal, September 19, 2005
    Bubble Trouble? Not Likely
    Commentary by Chris Mayer and Todd Sinai
    “For the past several years, Chicken Littles have squawked that the sky—or the ceiling—is about to fall on the housing market. And it’s tempting to believe them.”

  • The Wall Street Journal, August 17, 2005
    Lessons From Busts Gone By
    “Psychology is impairing their ability to make good economic decisions.”

  • The Wall Street Journal, May 18, 2005
    How to Keep a Roof Over Your Head If Home Prices Fall Through the Floor
    “The housing markets are not that crazy.”

  • The Wall Street Journal, April 20, 2005
    Let’s Get Real About Real Estate
    “When people think about buying a house, the overriding issue should be where do they want to live and for how long. If they’re going to live in it for seven years, buying is going to override renting in every part of the country.”

  • The Wall Street Journal, November 10, 2004
    Renting vs. Buying: Home Shoppers Should Plan to Stay Put for a Long Time
    “Think of San Francisco and New York as growth stocks, and think of Houston as an income stock.”

  • The Wall Street Journal, January 4, 2004
    Four Not-So-Wild Guesses for 2004
    “My wish for 2004 is that we don’t see the word ‘bubble’ appear in print anywhere.”

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