Talcott Franklin, co-author of the “Mortgage & Asset Backed Securities Litigation Handbook,” on when we can expect to see a rebound in housing:
“If you look at the housing bubble that was contributed to by the subprime lending environment, you see the Mount Everest of housing bubbles, as opposed to every housing bubble we have seen before,” Franklin said. “It is unlikely that we will see a significant recovery in housing prices, given the size of the housing bubble.”
Via MarketWatch, Franklin said he expects recovery could be more than 14 years out, citing the S&L crisis as a baseline. To steal a phrase from a famous rock star: You wanted the most bearish? You got the most bearish!