New York, NY (PressExposure) May 21, 2009 -- Clients at Asian-based boutique brokerage "Guardian International", were apparently told in no uncertain terms that any recovery in the US housing market was on hold until such time as the market formed a bottom and that this was unlikely to materialize any time before early or mid-2010.
It appears that many "Guardian International" clients had asked analysts to suggest market entry points following the two-year old slump in the world's largest economy. In a response contained in the firm's monthly client e-mail, analysts cited recent news which showed, categorically, that foreclosure activity in several states had actually accelerated and showed little sign of falling back as more Americans join the swelling ranks of the unemployed
"Guardian International" are thought to believe that further foreclosed properties exacerbate the situation by adding to unsold inventory even though there are signs that so-called "vulture buyers" are showing increased interest.
In addition, the firm believes that rising long-dated US treasury yields are hampering the Federal Reserve's efforts to keep mortgage rates low and, as such, clients should hold off speculative forays into the market.