The same considerations apply to homeowners. All else being equal, interest rates are higher now than they would be were real estate valuations less lofty, and if real estate prices begin to erode, homeowners should not expect to see all the gains of recent years preserved by monetary policy actions.

Donald Kohn

Related Quotes

If the past is any guide, the effect of rising interest rates is likely to be felt most visibly in housing markets.

— Donald Kohn

At this juncture, given the apparent strength in demand and the narrowing margin on unused resources, I am focused on making sure that inflation and inflation expectations remain well anchored. I do not know how much policy firming will be needed to accomplish this objective.

— Donald Kohn

Whatever might have once been thought about the existence of a 'Greenspan put,' stock market, investors could not have endured the experience of the last five years in the United States and concluded that they were hedged on the downside by asymmetric monetary policy.

— Donald Kohn

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I am aware that there is a great deal of public interest in the Wal-Mart Bank application; however, I believe it is important that the application be processed in a manner that is consistent with current law,

— Donald Powell

We and our mainland compatriots are of the same blood. We share a common interest and destiny. We ride on the same boat.

— Donald Tsang

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