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posted to alt.politics,soc.retirement,alt.california,rec.boats,talk.politics.misc
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First recorded activity by BoatBanter: May 2009
Posts: 11
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as the stock market hucksters lather up the suckers over
On May 26, 1:00*pm, wrote:
as the stock market hucksters lather up the suckers over meaningless
statistics, however in the real world:house prices are still plunging
at a 19% year-over-year rate.*This is only slightly lower than the
record drop of a couple of months ago
*please click on the link for the excellent video.
http://finance.yahoo.com/tech-ticker...sing-Not-%22Bo...
Housing Not "Bottoming," Says Tilson: Another 10%-15% Drop To Go
Posted May 26, 2009 01:54pm EDT by Henry Blodget
There has been a lot of talk lately about a "bottom" in the housing
crash, but it's balderdash.* As the Case Shiller index confirmed this
morning, house prices are still plunging at a 19% year-over-year
rate.* This is only slightly lower than the record drop of a couple of
months ago, and it shows that housing won't "bottom" for a quite a
while.
The good news, says our guest Whitney Tilson, managing partner at T2
Partners and author of More Mortgage Meltdown: 6 Ways To Profit In
These Bad Times, is that house prices will probably only fall another
10%-15%, which means we're closer to the end than the beginning.
Whitney thinks the market will bottom in about another year.* Don't
expect a quick rebound, however.* Housing market bottoms don't tend to
be "v-shaped."* And there's just too much baggage in the form of over-
supply, consumer debt, and ongoing economic weakness to expect a rapid
recovery in house prices.
Don't get caught in a "chump" rally.
Martin
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