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Home prices will continue to decline for several years, thanks to the shadow inventory of...

Home prices will continue to decline for several years, thanks to the shadow inventory of foreclosed homes - where a mortgage far exceeds the value of the home - that's yet to hit the market, Boston Properties (BXP) CEO Mort Zuckerman tells CNBC. "It's the biggest risk to the economy" today, he asserts.
Comments (3)
  • 1980XLS
    , contributor
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    I thought all the toxic assets were now on the Fed's balance sheet?
    3 Jan 2011, 05:27 PM Reply Like
  • Josh ODonnell
    , contributor
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    This guy has it all wrong. It's not just the inventory that will bring home prices down. Its a combination of many things...In 2008 we had bad loans going bad. In 2011 we are now seeing good loans go bad...Meaning people who had jobs and could afford there mortgages can't anymore. We will see another massive wave of foreclosures in 2011..probably another million +.
    3 Jan 2011, 05:39 PM Reply Like
  • Hendershott
    , contributor
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    House prices and the economy are not the same thing. Real estate is not always what drives the US economy, it does drive Zuckerman's economy though.
    3 Jan 2011, 06:44 PM Reply Like
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