Real Estate Debate: Cavuto On Business
There was a little dust-up a while back on the 'Cavuto on Business' section of the Fox site. Here are some quotes from Jim Rogers. "JR: I'm short Fannie Mae and I'm short the homebuilders."
"I expect Fannie Mae to go down 50-60 percent. How much will real estate go down? 30, 40, 50 percent in the next few years...This thing (FNM) is a sham. Nobody knows what they've got. They've been 'phonying' the numbers for years. And now we're going to find out that the thing has no equity."
The exchange with Ben Stein is worth reading.