Audio – Sad tidings
Nothing like kicking off the week with a dose of really grim news.
Nouriel Roubini, professor of economics at New York University, did just that on Tuesday morning at the Reuters Housing Summit with his thoughts on just how dire the real estate market looks right now and how tough it’s going to be for homebuilders for the rest of the year.
There’s not a lot of giggles here, folks. Roubini has been bearish on this sector for a long while now and many of the chickens he warned about are indeed coming home to roost.
Roubini was one of the featured speakers for this year’s summit, which continues through Friday in Reuters New York offices.