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Ranieri: Housing Is ?Shouting Distance? From Bottom

By Anonymous

From Bloomberg: Lewis Ranieri Says Housing Is ?Shouting Distance? From Bottom

?I?m actually very enthusiastic about housing, and I haven?t said that in five years,?? Ranieri said, speaking on a panel at the Milken Institute Global Conference in Beverly Hills, California. ?We?re within shouting distance of a bottom.?

The article says Ranieri was talking about prices, but that isn't clear from the quote. He might be talking about residential investment. Prices will fall further ...

And a look at the markets ...

Click on graph for larger image in new window.

The first graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".

Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.

The second graph compares four significant bear markets: the Dow during the Great Depression, the NASDAQ, the Nikkei, and the current S&P 500.

See Doug's: "The Mega-Bear Quartet and L-Shaped Recoveries".

Full post as published by Calculated Risk on April 29, 2009 (boomark / email).