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Predictions, Part 2: More Declines for LA Housing Market

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Former equity research analyst (and one who is no longer legally allowed to work in the securities industry), and current financial journalist Henry Blodget has some good news and some bad news. With analysis done by Dan Alpert of Westwood Capital, comparing "the housing price level in 20 American cities to the 'fair value' estimate that might be expected using the local price-to-rent ratio" Blodget identifies 10 cities that have likely stabilized and 8 likely to see further declines in pricing. Guess where LA lies? At least we're in good company, with NY, Boston, Miami, and Portland. Blodget also predicts the housing market hasn't bottomed out yet - but we're 75% of the way there. Housing boosters, take heart. Blodget's been wrong before.
· 10 Housing Markets Have Stabilized! Unfortunately These 8 Haven't [BusinessInsider]