Bank of America Thinks It?ll be a Long Way Down

A big hat tip to Housing Wire for sharing data of a leaked BofA analyst report on the housing market yesterday.  The report shows that Bank of America is bearish on housing through the end of this decade and in to the start of the next.  Bank of America sees housing pain continuing through 2011; which is the most distant of the ‘recovery' dates I've heard.  Every day it seems to get pushed further and further out as people digest information about what is really going on with all of these loans.  The latest media darling, the Option ARM reset, seems to be pushing people out past the wave of likely foreclosures caused by those loans resetting and declaring stability after those move through the system. Some points of interest from the excerpts that Housing Wire