"Nouriel Roubini is out with a call for another $1 TRILLION ins housing-related losses. He tells Dealbook that real estate is "for sure" double dipping now (a call that seems clearly supported by the latest Case-Shiller data, among others).
Roubini is particularly drawn to this report (.pdf) from Amherst Securities that suggest another 11 million homeowners remain underwater, which is well above the 3-4 million mark he had previously assumed.
So how does Roubini arrive at the $1 trillion number? Figure 11 million homes, a $200,000 mortgage on each, and a 50% recovery..."
at http://www.businessinsider.com/nouriel-roubini-1-trillin-in-housing-losses-2010-12?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29#ixzz17MjDUCGn
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