In case you missed it, Meredith Whitney was on Squawk Box yesterday. And she was once again playing the role of harbinger of doom.
She told Squawk that home prices could fall by another 25 per cent because of high unemployment and another leg down will come for stocks. What’s more, she said the financial sector will be in trouble as many more loans go bust.
“No bank underwrote a loan with 10 per cent unemployment on the horizon,” Whitney said. “I think there is no doubt that home prices will go down dramatically from here, it’s just a question of when.”
Here’s a video of her appearance: