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Politics : Sioux Nation

DJT 14.13

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Jan 21 3:59 PM EST

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To: Rock_nj who wrote (201320)	12/6/2010 3:52:33 PM
From: stockman_scott	Read Replies (1) of 362466

Nouriel Roubini: Real Estate Is "For Sure" Double Dipping, And Another $1 Trillion In Losses Is Coming They don't call him Dr. Doom for nothing. Nouriel Roubini is out with a call for another $1 TRILLION in housing-related losses. He tells Dealbook that real estate is "for sure" double dipping now (a call that seems clearly supported by the latest Case-Shiller data, among others). Roubini is particularly drawn to this report (.pdf) from Amherst Securities that suggest another 11 million homeowners remain underwater, which is well above the 3-4 million mark he had previously assumed. So how does Roubini arrive at the $1 trillion number? Figure 11 million homes, a $200,000 mortgage on each, and a 50% recovery. Voila. businessinsider.com

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