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Home prices in U.S. may drop 8pct, Pimco’s Simon says

Posted on 15 November 2011

U.S. home prices will probably decline an additional 6 percent to 8 percent before bottoming, Pacific Investment Management Co.’s Scott Simon said.

Potential home buyers are being kept on the sidelines by policy makers tightening rules for government-backed loans and banks being more restrictive than required by Fannie Mae, Freddie Mac and the Federal Housing Administration, Simon said in a radio interview on “Bloomberg Surveillance” with Tom Keene from Pimco’s headquarters in Newport Beach, California………………………………………Full Article: Source


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