Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
05-27-2011, 04:42 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Housing Collapse to Spark Second Financial Meltdown
Bond Expert Gundlach: Housing Collapse to Spark Second Financial Meltdown
Thursday, 26 May 2011 03:07 PM
By Dan Weil
The housing meltdown hasn’t ended yet, and it could ultimately spark another financial crisis, says renowned bond fund manager Jeffrey Gundlach, CEO of DoubleLine Capital.
“The housing market is dropping . . . and about to go to a new low," he tells CNBC. "I think we're looking at some type of echo in the credit crisis coming up here. That's what I'm afraid of."
He notes that the S&P/Case-Shiller Home Price Index is approaching a new trough. The index measuring prices in 20 major cities dropped 3.3 percent in February from a year earlier, the biggest decline since November 2009.
At 139.27, the index has almost reached its six-year low of 139.26 set in April 2009. And Gundlach isn’t the only one worried about that development.
“There is very little, if any, good news about housing,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Illegal Alien Accused of Sexually Assaulting 11-Year-Old Girl...
05-06-2024, 06:45 PM in illegal immigration News Stories & Reports