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-- joining us now to discuss the state of the market.
The CEO of the president of Citi mortgage -- -- good to have you with executive.
Plenty of let's start with the the overall.
The power of this housing -- recovery.
Is that too strong -- language to describe what's happened.
Perhaps too strong but I've -- say that that Betty yes signs now that housing is recovering on a sustained basis.
Eighteen out of between the top cities indication.
-- Showing growth it used to be.
I think -- generate.
It's about six months ago.
So it's been very strong up fewer who -- -- -- a few fewer but down.
It also remembering that home prices dropped so much from peak to trough to talk about 34%.
And so they're recovering but they're coming from very innovative snack.
But -- -- sustained growth growth.
Address sales moving higher.
How long it will first do you expect to see your price recovery as well as a sales.
Our recovery do you expect those prices -- that price recovery.
-- ever gonna Specter park you.
But road is the general view who -- but the general view I -- but I always -- how intelligent person is.
Could ever going to see who know -- that's what.
And on being cute but because otherwise the general view is that if you look at long term trends from 1968.
On -- to a trend line.
You know that there was a bubble in -- group of six to seven.
For many are right down to getting back to the trend line.
The general view is to be about pretty -- to get there.
So if somebody's looking at a profit they might eagerly jumped at that modest profit rather than wait for a full the growth is expected to -- at about four to 5% I think that's the general view.
And we're looking at the death in the housing market the overall value summer turns around seventeen drivable over ten trillion.
In debt seven trillion in the market itself.
-- how much do you expect to see that market actually grow.
Well -- market but market shrinking.
You know US consumers.
Had leverage off about a 124%.
At the peak.
Knowledge that went -- in 14%.
And I would say that -- -- one of the biggest -- -- in terms of just a group of debt but that's not such a bad thing either and if you think about.
Consumer leverage to a household leverage because of the quality -- the -- depends on the quality of the never -- I think the quality of the leverage active -- hundred is about where you want it to me.
And I think that's will be -- and almost steady state environment should be.
-- is is it your sense that this market this recovery right now is vulnerable.
Are given the fiscal cliff all of the uncertainties that are it seems.
The more of the folks in Washington talk.
I'd say that this recovery is fresh.
It depends you know I told have been very patchy that's and it grew from its going from a very very low point in the economy -- is seeing markets like Phoenix Detroit.
-- kind of plug in some with this information.
I would say that the fiscal cliff discussions have definitely not -- -- -- consumers see.
The implications of mortgage tax deduction for example coming off this although I do the market -- that was agreed to implement.
But I think it will definitely hope -- confidence in the market and I think that I would not recommend doing that and gestational that -- somehow I thought that would be your answers -- -- revolves.
-- homeowners here's your gotten used to that deduction should.
Sanjay great to have you -- -- -- fashion mister.
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