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How big is Wall Street’s housing bet? Pretty big

Posted on 10 January 2013

Wall Street is hitching its bullish hopes for 2013 to an unlikely star, believing that a real estate industry that led the economy into the abyss is what ultimately will carry it back out. While hopes that housing is about to turn a corner aren’t entirely new, the extent to which optimistic stock market forecasts are pinned on the mercurial sector is striking.
“We’re seeing much more evidence of a meaningful recovery in housing,” said Joe LaVorgna, chief U.S. economist at Deutsche Bank. “The (household) balance sheet is better, the housing sector is better, we’re seeing better motor vehicle sales. The cyclical side of the economy, which had looked very weak coming out of the last downturn, looks almost like (it could lead the recovery).”……………………………………….Full Article: Source


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