Dennis Norman
By:Dennis Norman
Yesterday,on CNBC,Meredith Whitney,a well-known former analyst for Oppenheimer &Co. and now President of her own company,Meredith Whitney Advisory Group,said home prices could fall another 30 percent from where they are now.
Well,this is in sharp contrast to what I’ve been saying lately in posts where I have flirted with the idea that the real estate market may be getting close to the bottom. So who’s correct? If we compare credentials between us,after you click on Meredith’s name above to read about her accomplishments you will see she has me totally outclassed and is in a whole different league than I. So does that make her right? I sure hope not….I would hate to see another 30% of value stripped from american’s homes but,as I have noted in my “optimistic posts”one month of improved sales does not make a trend,so we are going to just have to wait another couple of months and see what direction the market and economy goes.
Below is the entire interview with Meredith from CNBC. It is very informative and I would encourage you watch it,however if,like me,you have the attention span of a 6 year old and can’t sit still long enough to what the whole thing,then jump ahead to just shy of halfway through (say 40%) and you will be at the part where Meredith starts discussing home values.
Related posts:
- Home prices in US declined 7.8 percent in past year…expected to fall another 4.2 percent
- Home Prices Lose Momentum and Fall in First Quarter
- New home sales fall in January…down over 18 percent from a year ago
- New home sales plummet in February,prices fall as well
- New home sales fall in October;Down 30 percent from year before
