Retail Stores Closing, Rotting Homes, Gundlach, Subprime Bear

Think real estate has "turned a corner" and on its way up? Commercial retail will be shutting down stores nationwide, and housing is rotting away in the foreclosure pipeline (this is what happens when the Fed creates a housing bubble and then tries to re-inflate it without letting markets clear) --

Gundlach Counting Rotting Homes Makes Subprime Bear - Bloomberg: "“These properties are rotting away,” Gundlach, 54, said last week on a conference call with investors, about homes stuck in foreclosure pipelines, adding that it could take six years to resolve defaulted loans made to the least creditworthy borrowers before the real-estate crash."

By the way, Gundlach is not afraid of brashness, and being a contrarian, having called for abolishment of the Federal Reserve, and previously warning investors about subprime. (source supra)

Tweet    Follow @johnmpoole