He Sees No Recovery Until 2010

BALTIMORE (Reuters) - The chief executive of Fannie Mae (FNM.N: Quote, Profile, Research) said on Tuesday that he expects no real recovery for the U.S. housing market before 2010.

"We are going to have a period where we move through the trough," Daniel Mudd, Fannie Mae's chief executive officer, told a meeting of business reporters.

This year "is going to be tough" and next year "will be similar," Mudd told the Society of American Business Editors and Writers.

"You will start to see some recovery in (2010)," he said.

http://www.reuters.c...933820820080429

I should have titled this post as "Who Said the Bottom Is in, III".

Actually C just made the bottom after market close, unless someone decide they want to over take C to mark the bottom next month/quarter/year. but we it can not be worst then now, so let buy all the stocks.

BALTIMORE (Reuters) - The chief executive of Fannie Mae (FNM.N: Quote, Profile, Research) said on Tuesday that he expects no real recovery for the U.S. housing market before 2010.

"We are going to have a period where we move through the trough," Daniel Mudd, Fannie Mae's chief executive officer, told a meeting of business reporters.

This year "is going to be tough" and next year "will be similar," Mudd told the Society of American Business Editors and Writers.

"You will start to see some recovery in (2010)," he said.

http://www.reuters.c...933820820080429

The markets and to some degree housing should rally Fall of this year into April - August 2009. After that, ...., no final bottom until the Fall of 2014. This mess is much worse than most assume but the band aids will be heavily placed until after the elections.

KC

The year 2012 is my cyclical bottom prediction that I posted using much much longer cycles, it also coincides with the 2010-2011 option ARM resets. I doubt the jumbo rates will be able able to go much lower by then. In fact, I predict there will be a repeat of 80-82 style rally in rates with a dollar bottom shortly from here, the Treasuries will be in an imminent danger of collapsing significantly until the spring of 2009 from here as well since the housing will fail to recover and it will become more and more obvious as the months and quarters pass by...