Paul Kasriel Quotes

Up until 2000, households in the post-War period had never experienced a decline in their net worth on a year-end to year-end basis... But they did in 2000, they did in 2001, and they're on course for it again in 2002.

- Paul Kasriel

Tags

2000 | Households | Post | Period | Experienced |

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Rising bond yields would hurt the housing market. Unless incomes pick up to offset higher financing, you're going to have a problem. - Paul Kasriel

I agree with Gross. It's been refinancing of mortgages -- basically eating into one's seed corn -- that has been sustaining consumer spending. When that peters out, it's not clear what's going to kick in. - Paul Kasriel