Bank of America: It’s Not Over Until 2011

Via an anonymous HW reader, Bank of America is predicting that the housing slump will persist well into 2010. Some scary charts for you (these are the best quality available, clicking on each will bring up slightly larger version): Housing Prices: Resets: S&P/Case-Shiller: Note the anticipation of a 15.1 percent cumulative drop in housing prices through 2010. I’ve told HW readers that the industry is in for a rough ride in 2008, and this is the sort of data that I keep seeing that is driving that sentiment.