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Westwood’s Alpert says U.S. home prices will fall further

Posted on 25 November 2010

From Seekingalpha.com: Dan Alpert, managing partner at Westwood Capital, thinks that banks are under-reserving and that this will come back to haunt them when house prices fall in “the final leg down” of the housing crisis.
That is the right view if you read between the lines of the last post from Annaly Capital Management. I am in full agreement here that loan loss provisioning is artificially boosting earnings (and bonuses) when more prudence would be warranted……………………………………….Full Article: Source


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