Another short summary from the Wall Street Pit on the GBD Report. This time on the US housing market:
"While Dr. Faber thinks the US housing market has another 10% to fall, he would be a buyer because of attractive valuations. Faber compares the price of US housing to gold and concludes that housing has not been this cheap since the early 1980′s. But do not think there will be a quick recovery–there won’t be. The main point about housing is that it is a good inflation hedge and will likely keep its purchasing power of the next 10 years. In a serious inflation environment, Faber would rather own housing than paper dollars."
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
