State Of The Real Estate Market July 2009: Plenty More Downside

Henry Blodget|Jul. 6, 2009, 12:22 PM
comment 45
whitney tilson

Whitney Tilson (right) and Glenn Tongue of T2 Partners have updated and expanded their excellent presentation on the housing and mortgage markets.

Here's the bottom line:

* We are in the "middle innings" of the mortgage and foreclosure crisis

* House prices have at least another 15%-20% to fall and won't bottom until the middle of next year.

* The recent signs of stabilization are the "mother of all head fakes."

We've summarized house-price portion of T2's presentation in the slides that follow. The presentation provides an excellent snapshot of the state of the market, as well as the trends that will likely drive prices significantly lower over the next year. You can download it yourself here (PDF), or scroll through the whole thing here. http://www.businessinsider.com/henry-bl ... 009-2009-7

http://www.businessinsider.com/henry-bl ... ide-2009-7