Meredith Whitney was on CNBC again this morning, predicting more doom for the housing market and the battered banks that are depending on its recovery. Whitney is now calling for a 40% peak-to-trough decline in house prices[.]
Emphasis added by me.
If that figure seems incredible, look back to Alan Greenspan's opinion: Chronicles Of Depression 2.0: #181.
Meredith Whitney is a very interesting person. I'd forgotten about her. As it turns out, she's been quoted in this blog three times!
Supplemental:
The Rise and Rise of Analyst Meredith Whitney: Michael Lewis
Previously here: (Meredith Whitney)
Chronicles Of Depression 2.0: #020
Depression 2.0: Is It Real Now?
What, You Thought It Was Over?
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