Largest Housing Price Decline Since Great Depression?
Today, Kenneth Heebner said U.S. home prices may plunge as much as 20% in some markets because of rising defaults on riskier mortgages.
Subprime & Alt-A loans account for about $2.5 trillion of the $10 trillion in outstanding mortgages. As much as 40% of these loans may default, Heebner said.
"It will be the biggest housing-price decline since the Great Depression," Heebner, 66, said today in an interview in Boston.
How dare he contradict the Fed's assertion that the housing market "adjustment" seems to be in abatement. Who is this Heebner? and what does he know anyway?
Kenneth Heebner, co-founded Capital Growth Management in 1990, and manages the $1.6 Billion CGM Realty Fund.
As Wall Street's top performing realty fund, CGM has gained an average of 20% a year in the past 10 years. Doh!!!
Oh, I guess he might know more than just a little, do ya think?
And we haven't done this is quite a while...drumroll please... Yes Naybob's, we are trotting out our little pig in a poke...
Mr. Heebner gets our SOOHEY, PIG, PIG award, as his candor and insight has the Nattering One, squealing with delight. More at Bloomberg.
Subprime & Alt-A loans account for about $2.5 trillion of the $10 trillion in outstanding mortgages. As much as 40% of these loans may default, Heebner said.
"It will be the biggest housing-price decline since the Great Depression," Heebner, 66, said today in an interview in Boston.
How dare he contradict the Fed's assertion that the housing market "adjustment" seems to be in abatement. Who is this Heebner? and what does he know anyway?
Kenneth Heebner, co-founded Capital Growth Management in 1990, and manages the $1.6 Billion CGM Realty Fund.
As Wall Street's top performing realty fund, CGM has gained an average of 20% a year in the past 10 years. Doh!!!
Oh, I guess he might know more than just a little, do ya think?
And we haven't done this is quite a while...drumroll please... Yes Naybob's, we are trotting out our little pig in a poke...
Mr. Heebner gets our SOOHEY, PIG, PIG award, as his candor and insight has the Nattering One, squealing with delight. More at Bloomberg.
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