
“The problem with the real estate market remains excess inventory. Based on Shilling’s research, there are 2 million to 2.5 million excess homes in the country — a supply that will take 4-5 years to work-off. The result: Housing prices will fall another 20% and underwater mortgages will balloon from 23% to 40%, he says.
With housing slumping again, Shilling says recession is coming to a town near you in 2012.”
Source>>>>
WHO IS GARY SHILLING?
Gary Shilling on How to Invest in the Age of Deleveraging and Deflation, Part I
Gary Shilling on How to Invest in the Age of Deleveraging and Deflation, Part II




