Wednesday, May 5, 2010

Whitney: Banks Under-reserved for 'Double-dip' in House Prices

Banks continue to suffer from losses on non-performing loans, and U.S. home prices will fall again amid increasing supply and sluggish demand, according to [banking analyst Meredith Whitney].

“I’m steadfast in my belief there’s going to be a double- dip in housing,” she said. “You will see clearly that the banks are under-reserved when housing dips again.”

story and video:

hat-tip: calculated risk

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