Housing Bear Who Called 2018 Slowdown Says Worst Yet to Come
- Stack sees risk of worst year for housing since the last crash
- Money manager foresaw last year’s homebuilder stock declines
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James Stack, who predicted the 2008 real estate crash and nailed last year’s housing slowdown with uncanny timing, is back with some bad news for 2019.
“Housing could be heading for its worst year since the last housing crash," Stack, 67, said in a phone interview. “Expect home sales to continue on a downward trend in the next 12-plus months. And there’s a significant downside risk to housing prices if a recession takes hold.”