Media Appearance: The Kudlow Report (6/22/10)


Tonight, I will be on the Kudlow Report at about 7:20pm to discuss the next leg down in Housing. As noted earlier today, Housing data was weak, falling 2.2% from April. And now that the Tax incentive is over, expect more downwards pressure.

The 3 most important things to note about Housing:

1. Prices remain historically elevated;

2. Shadow inventory — flippers and investor purchased homes — still lurk out there by the millions;

3. We are likely looking at another 5 million more Foreclosures . . .

As I have argued in the past, this will be healthy, cleansing thing.  Painful, but ultimately healthy.

I don’t think I  have been on the show since October 2009.


Video is here

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