The housing meltdown hasn’t ended yet, and it could ultimately spark another financial crisis, says renowned bond fund manager Jeffrey Gundlach, CEO of DoubleLine Capital.
“The housing market is dropping . . . and about to go to a new low," he tells CNBC. "I think we're looking at some type of echo in the credit crisis coming up here. That's what I'm afraid of."
He notes that the S&P/Case-Shiller Home Price Index is approaching a new trough. The index measuring prices in 20 major cities dropped 3.3 percent in February from a year earlier, the biggest decline since November 2009.
Read more: Bond Expert Gundlach: Housing Collapse to Spark Second Financial Meltdown
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Saturday, May 28, 2011
Home prices still declining....
Posted by Nick at 9:35 PM