Freddie Mac CEO Forecasts Gloomy Housing Future
- Mar 12, 2008
McLean, Va.–Freddie Mac CEO Richard Syron said Tuesday that housing prices are likely to fall even more.According to Syron, prices have fallen only a third of how low they will eventually go, MarketWatch reports. On a conference call to analysts, the McLean, Va.-based company forecast a peak-to-trough decline of 15 percent.Freddie Mac reported a $2.5 billion fourth quarter loss on Feb. 28, which is attributed to the housing decline. Shares of Freddie Mac rose 3.5 percent Wednesday in early trading.