The Treasury sponsored a panel on mortgages and how house booms can unwind.
Panel on Mortgages
Panel 1: Outlook for the U.S. Housing Market and Potential Impact on Banks and Thrifts
Scott M. Polakoff, Deputy Director Office of Thrift Supervision;
Richard A. Brown, Chief Economist Federal Deposit Insurance Corporation;
William A. Longbrake, Formerly FDIC, now WaMu vice chair
Anthony T. Cluff, Senior Policy Advisor Financial Services Roundtable;
Allen Sinai, Chief Global Economist Decision Economics, Inc.;
David F. Seiders, Chief Economist
National Association of Home Builders
Regulatory speakers: Risk is well-distributed, but things can get much worse
Sinai: 8-10% decline in median home price, 2.5% GDP growth at best (housing will contribute -1%), may be cushioned by concentration of speculative financing among upper income, but subprime mortgages could be a problem
Seiders: (Homebuilders Association): Home sales bottom out in 4Q 2006. Housing bottoms out in 4Q, 2007
# posted by
Charles @ 12/13/2006 10:50:00 AM