Meredith Whitney, Gary Shilling See 10% Further Decline in Housing Prices (Videos)

Video 1: Meredith Whitney, during yesterday's Fortune interview, predicted a double dip recession in housing, fueled by banks releasing inventory. Prime real estate coming to market will affect housing prices on a larger scale. She sees a 10% decline in home prices over the next 6 months and is concerned about municipalities (states underfunded by $200 billion!).  Also, the mortgage and consumer lending market are shrinking which will affect bank earnings.

Video 2: Gary Shilling, in a recent interview with Tech Ticker's Henry Blodget, predicted a 10-20% decline in housing on excess inventories, possibly new lows on the S&P 500 and is long the US Dollar and Treasuries.

Meredith Whitney Fortune Interview (h/t naked capitalism)





Gary Shilling Tech Ticker Interview



In other news: Greeks Walk Off Job to Protest Overhaul to Pensions, Labor Laws (Bloomberg)

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