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Housing Market Sure to Double-Dip: Whitney

Posted By admin On March 16, 2010 @ 5:18 am In Money Watch | Comments Disabled

Antonia Oprita
CNBC.com [1]
March 16, 2010

The US housing market will face another retreat while mortgage-backed securities and Treasurys are likely to go through a “material” correction, Meredith Whitney, CEO of Meredith Whitney Advisory Group, told CNBC Tuesday.

“The housing market surely will double dip,” Whitney told “Worldwide Exchange.”

Government programs to support housing have been “murky” and when the modifications caused by them come to an end, a lot of supply may come to the market and that’s when the real-estate market is likely to go down, she explained.

Hopes that an improvement in liquidity and continuing investment from China in US assets will prop up mortgage-backed securities (MBS) and Treasurys are exaggerated, Whitney also said.

Full article here [1]

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URLs in this post:

[1] CNBC.com: http://www.cnbc.com/id/35887306

[2] Image: http://prisonplanet.tv/signup.html

[3] Housing market continues its freefall as 14 million Americans descend into negative equity: http://www.prisonplanet.com/housing-market-continues-its-freefall-as-14-million-americans-descend-into-negative-equity.html

[4] Central Bank Hid Housing Market Crash Forecast: http://www.prisonplanet.com/central-bank-hid-housing-market-crash-forecast.html

[5] Government Bailout Actually Hurt Housing Recovery: Zell: http://www.prisonplanet.com/overnmentbailouthurthousing.html

[6] Will 2011 Be A Nightmarish Year For The U.S. Housing Market?: http://www.prisonplanet.com/will-2011-be-a-nightmarish-year-for-the-u-s-housing-market.html

[7] Housing Market Being Pounded By New Wave of Foreclosures: http://www.prisonplanet.com/housing-market-being-pounded-by-new-wave-of-foreclosures.html

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