A Quote by Ben Bernanke

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

Ben Bernanke

Quote Topics

Borrowers Decline Difficult Equity Financial Home Home Equity Homeowners Homes Incentive Makes More Refinance Remain Stressed Struggling

Quote Author

Ben Bernanke
American - Public Servant
Born: December 13, 1953

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.

Alan Greenspan

As homeowners see the value of their homes decline, they become more likely to delay purchases of the big items - like automobiles, electronics and home appliances - that are ballasts of the American economy. When those purchases decline, large manufacturing firms, suddenly short on funds, could begin laying off employees.

Charles Duhigg

Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.

Alan Greenspan

Homeowners refinance their loans when interest rates go down. Businesses refinance their loans.

Elizabeth Warren

Too many families and homes remain unnecessarily vulnerable to natural disasters like hurricanes. While mitigation will never eliminate the risk to homeowners, it could reduce loss and, in many cases, save a family's home. For every $1 spent on mitigation, $4 in post-storm cleanup and rebuilding is saved.

Tom Rooney

Based on the overwhelming array of luxury products manufacturers have recently introduced, homeowners want anything that makes their lives more comfortable at home. Whether it involves heating/warming accessories or spa-like home environments, it's part of the 'cocooning' phenomena that has resurfaced. People are spending more time at home and they want to be comfortable. They want to use their home to its full potential, not just as a place to eat and sleep between workdays.

Stephanie Miller

Ultimately savings have to go somewhere and I think they will find their home in financial markets and within financial markets, a large part in equity.

Rakesh Jhunjhunwala

More than a quarter of mortgage borrowers are underwater, and 11 percent of all homes are vacant.

Marcia Fudge

The way we finance homes in this country is slow, filled with middlemen, who run a nonstandardized evaluation process. This makes financing a home cumbersome and difficult.

Barry Ritholtz

When a person from a community goes and buys a car, he or she should have the incentive, financial incentive, to buy a more efficient, more environment-friendly car. This shouldn't be only left to the intention of the people. We cannot only rely on the ethics or the moral of the people.

Fatih Birol

Education makes us the human beings we are. It has major impacts on economic development, on social equity, gender equity. In all kinds of ways, our lives are transformed by education and security. Even if it had not one iota of effect [on] security, it would still remain in my judgment the biggest priority in the world.

Amartya Sen

Recently I reviewed the history of many missionaries and found a powerful correlation between exceptional missionaries and mothers who chose to remain home, often at great financial and personal sacrifice...They reflect honor to mothers who sacrificed to remain home for their children's benefit.

Richard G. Scott

In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.

Dale T. Mortensen

I can tell you that when I travel the state, when I talk to people, they are really struggling, in a very real way. They're losing their jobs, they're losing their homes, they're dealing with financial challenges.

Alexi Giannoulias

A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.