Bulk Sales ‘Quickest Solution’ For Home Overhang, Goodman Says

Housing prices in the U.S. will fall a further 5 percent in the next year before the bottom as the government plans to sell foreclosed properties to investors, according to Laurie Goodman of Amherst Securities Group LP.

“Policy makers have finally gotten the prescription right,” Goodman, New York-based senior managing director of the firm, said today in a Bloomberg Television “Surveillance Midday” interview with Tom Keene. The “quickest solution” to resolving an overhang of foreclosed properties that’s restraining housing’s recovery is through bulk sales of properties held by government-supported mortgage financiers, she said.