Whitney Tilson has been negative toward housing market for quite some time, especially towards the home builders.
In May 2009 Whitney Tilson of T2 told us he expected real estate woes would be enduring. In fact at that time he said we were in about the 5th inning of the crisis and expected losses in residential and commercial real estate to total more than $1 trillion, when all is said and done.
Today it was reported that foreclosures pass the one million mark in 2010 for the first time in U.S. history. Tilson reflects on this situation in a CNBC interview.
“I don’t see real fundamental improvements. But the government is committed to supporting it.” He said. But he is still shorting home builder Lennar and a basket of other home builders:
In May 2009 Whitney Tilson of T2 told us he expected real estate woes would be enduring. In fact at that time he said we were in about the 5th inning of the crisis and expected losses in residential and commercial real estate to total more than $1 trillion, when all is said and done.
Today it was reported that foreclosures pass the one million mark in 2010 for the first time in U.S. history. Tilson reflects on this situation in a CNBC interview.
“I don’t see real fundamental improvements. But the government is committed to supporting it.” He said. But he is still shorting home builder Lennar and a basket of other home builders:
