United States mortgagor, Fannie Mae, may want an additional USD8.4 billion government loan as its losses grow and home loans continue to go bad, but some powerful figures consider the worst is over for the housing market.
The Sage of Omaha, the world's most successful investor, Warren Buffett, says that “within a year or so, residential housing problems (in the US) should be largely behind us”. Others feel the same. John Paulson, the hedge fund manager, says property prices in battered California will begin to rise this year, setting the stage for a wider recovery.
Following Buffet's advice that investors ought to get greedy when others are fearful, the dearth of home buyers in the market means bargains are available for those who look hard enough. Property marketers, Experience International, says homes can be bought for up to 72 per cent below recent selling prices in Florida. Do you feel lucky?
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