Uncertainty over housing makes picking stocks very difficult

At The Big Picture, Barry Ritholtz notes the scary forecasts for the housing market that are coming out of Fredie Mac. Ritholtz says:

It’s only one man’s opinion, but Freddie Mac Chief Executive Office Richard Syron had some rather astounding comments to analysts today:

- HOME PRICE DROPS “ONLY” ONE THIRD DONE
- WE’RE IN A 100-YEAR STORM IN HOUSING
- US IS IN WORST HOUSING MARKET IN A CENTURY
- APARTMENT’S ROLE IN HOUSING TO BE “MUCH BIGGER”

The most controversial thing Syron was picked up in a Bloomberg report: Federal Rules Let Too Many Poor People Buy Houses, Syron Says.

That is rather inartfully expressed. What I think (or at least hope) he meant was that too many people—Home owners formerly known as renters—bought houses they simply could not afford.

Read the whole thing.

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