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re: Housing Prices
Posted on 1/29/09 at 2:40 pm to kfizzle85
Posted on 1/29/09 at 2:40 pm to kfizzle85
quote:
Define "damage."
Not exactly sure what Ablin was thinking, but I viewed this to be "damage" to home prices.
In terms of "fair value" the premise was that housing prices tracked closely to the CPI/inflation from 1964 until 2000-2001. With the bubble, housing prices got out of line (i.e., greatly exceeded the rate of inflation). However with the recent decline, housing prices are back in line according to Ablin.
I'm not expecting a bottom in housing prices until 2010, but Harris is presenting a more optimistic view.
1
Posted on 1/29/09 at 2:46 pm to Edge
quote:
Not exactly sure what Ablin was thinking, but I viewed this to be "damage" to home prices.
Right. Which is different than the damage caused to the whole system by having the single biggest asset class in the world (US mortgage debt) continue to deleverage.
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