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The Street: Bad times ahead for the housing market

Wed, Jan 12, 2011

News

Get your fill of housing market gloom from The Street’s Doug Kass today.

Make it to the end and you’ll see this bit of particularly depressing commentary on the recent high court ruling from Massachusetts. Mark Hanson predicts:

“The litigation phase of the foreclosure crisis is going to get out of control. Homeowners, originators, underwriters, trustees, servicers, title companies, MI firms and everybody else involved in the origination, funding, securitization, servicing and insuring spaces will be suing everybody else. Multiple, big cases will come from state AG’s, and class action suits will be announced daily.”

Look for my article in Friday’s paper where I talk to members of the House Economic and Business Development Committee about the prospects of foreclosure-reform legislation.

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