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Lump of Coal for Housing Market

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The New York Times gets a heap of gloomy predictions from economist Nouriel Roubini, who sees another $1 trillion loss in the housing market. "The United States “real estate market, for sure, is double dipping,” Mr. Roubini said. “The apparent increase in prices has been fully reversed, demand is falling, and supply is going to increase.” Additionally, he quotes studies stating loan modification programs masked problems. But both Daily Finance and Bloomberg call Nouriel Roubini a "perma-bear" whose predictions about the stock market have been disproven. [NY Times, Daily Finance, Bloomberg]