AdvertisementMeredith Whitney expects home prices to fall by 10% to 20% as the frozen housing market starts thawing.
The veteran researcher said baby boomers aren't selling, restricting the number of homes available.
Home prices are poised to fall by up to a fifth as the frozen housing market thaws — and that could help baby boomers sell at last and younger people to become homeowners, Meredith Whitney says.
Advertisement"The problem is the baby boomers own 60% of the housing stock," she said, referring to single-family, owner-occupied homes.
AdvertisementSeveral economists have predicted a "silver tsunami" as baby boomers sell their homes to downsize or move into care homes, increasing the available supply of single-family homes and reducing prices.
Persons:
Meredith Whitney, It's, Price, Whitney, millennials
Organizations:
Meredith Whitney Advisory Group, Homeowners, Federal Reserve, National Association of Realtors, CNBC