We do believe that the U.S. housing market is a bubble in...

We do believe that the U.S. housing market is a bubble in the sense that its contribution to consumer spending is unsustainable. Households have used a large share of the recent home equity gains to supplement their spending. When these gains dry up, as they ultimately must, spending is likely to weaken substantially.

Jan Hatzius Quote About Believe, Bubble, Consumer, Dry, Equity: We Do Believe That The...

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