MarketWatch surveyed some of the bigger names on Wall Street who focus on housing, and the general consensus is that whatever recovery was going isn’t anymore, and that they’re betting against housing.
Some of Wall Street’s most vocal investors are betting against housing, saying the recovery has fizzled out.Sponsor Content
Earlier this month, DoubleLine Capital founder Jeffrey Gundlach took to the podium at a highly watched investment conference to suggest shorting the popular SPDR S&P Homebuilders exchange traded fund. He pointed to a concern, cited by others, that would-be young buyers are shunning mortgages .
BlackRock CEO Laurence Fink said Tuesday that the housing market is “structurally more unsound ” than prior to the financial crisis due to its reliance on Fannie Mae and Freddie Mac, according to news reports. He did sound a more optimistic note on homeownership reviving.
Real-estate investor Sam Zell says he expects the Homeownership rate to drop as low as 55% as more people delay marriages.
(Photo credit: Rob Wilson, Shutterstock.com)