Reason #2 to Short the U.S.: The Housing Market Isn’t Recovering
Posted by: admin in Real Estate and HousingFiled under: Bad News, Housing
The optimism on Wall Street about housing is surreal given all the public data on housing values, mortgage defaults, foreclosures and new home starts.
Housing prices are going to fall nationally for another couple of years as foreclosures hit 6-7 million in the next 30 months, and the 600,00 to 800,000 homes foreclosed but not yet listed are added to housing inventory. The headwinds created by this will last until foreclosures peak and those homes hit the market in late 2011 to mid-2012. Foreclosures won’t hit historical norms until a year or two from that peak.
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Reason #2 to Short the U.S.: The Housing Market Isn’t Recovering originally appeared on BloggingStocks on Sat, 30 Jan 2010 13:00:00 EST. Please see our terms for use of feeds.
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