US housing market seeing ‘meaningful’ damage that’s ‘not normal,’ CEO of investment firm warns

Source: Fox Business — 

The U.S. housing market is in for a rough year, according to the CEO of one private equity investment firm. 

“In 23′ it’s going to be slow. I think we’re going to have a tough row to hoe. I think that coming in the next year, you’re really going to see the damage that’s going on,” Pulte Capital CEO Bill Pulte explained on “Mornings with Maria.”

“We need to make sure that these management teams are completely focused on executing right now because, Maria, you get 40% reduction in orders. And the big builders, they need to step up their game right now,” he continued.