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BOA CEO says some owners should not look at a home as an asset - blames low population growth
Bank of America has revealed the astonishing truth about what is holding back the housing recovery. Low population growth! The population isn't growing as fast as it did in the post World Wars I and II era.
It is truly amazing how BOA finally found the smoking gun.
I wasn't there when announcement was made, but some of these people were:
Wall Street Journal: http://onespot.wsj.com/realestate/2011/04/12/d0af8/bofa-ceo-owners-shouldnt-look-at-home-as
Huffington Post: http://www.huffingtonpost.com/2011/04/12/bofa-ceo-moynihan-some-pe_n_848312.html
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