(Reuters) - The grim tidings about the industry dragged down both the housing and construction sectors, as well as the broader stock market.
"Overall, the market for new homes stinks ... liquidity is getting sucked out of the system," said Alex Vallecillo, senior portfolio analyst with Allegiant Asset Management, which has $30 billion in total assets under management. "Mortgages are going to be tougher to come by, more expensive. The buyers are basically drying up."
Read more at Reuters.com Market News
"Overall, the market for new homes stinks ... liquidity is getting sucked out of the system," said Alex Vallecillo, senior portfolio analyst with Allegiant Asset Management, which has $30 billion in total assets under management. "Mortgages are going to be tougher to come by, more expensive. The buyers are basically drying up."
Read more at Reuters.com Market News
No comments:
Post a Comment