For those of us focused on the housing market, this piece is particularly enlightening. As the authors explain, we will need to see a price reduction in order for the housing market to stabilize without government aid.
The author explains that, “Based on Merrill’s estimates the housing market is unlikely to normalize before 2015. The supply/demand imbalance is simply staggering at the current levels and is likely to deteriorate if the economy weakens further.”
Sighting charts and analysis from Merrill Lynch, the article sheds light on the current housing issues. Certainly, these issues are pertinent to those in the financial sphere like Corey Ribotsky and to anyone looking to invest in the housing market or to purchase a private home.