Because she’s predicting skimpy bonuses on Wall Street this year, and 80,000 workers fired next year, just in the U.S. That would put a crimp in the Greenwich market.
Greenwich home sellers and realtors better hope that Meredith Whitney doesn’t know what the hell she’s talking about
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Such expectations are deflationary and would suck what liquidity is left out of RE
Perhaps a more active CT rental market will be a secular change during a 5-10yr deleveraging cycle as NYC workers w/intact jobs and incomes flee NY taxes for cheap (and deflating) CT rentals
Here is some good news for sellers …
http://www.businessinsider.com/the-7-million-shadow-inventory-could-set-off-a-housing-price-avalanche-2010-9