Reported 2 days ago
Meredith Whitney, known as the 'Oracle of Wall Street,' states that a 20% decline in home prices is necessary to address the growing divide between baby boomers and younger generations in the housing market. She explains that boomers are not selling due to aging in place and favorable mortgage rates, creating a standoff with buyers. Whitney anticipates a drop in home prices could lead to improved affordability for younger buyers, although current market dynamics suggest prices are unlikely to decline significantly due to a housing supply shortfall.
Source: YAHOO