Meredith Whitney: Home prices to fall another 30%

Star bank analyst Meredith Whitney has become even more bearish on housing. She now says home prices have fallen 30% since the peak, and will fall another 30%, for a total decline of 50%. (For those of you confused by the math, you should be using multiplication instead of subtraction. 100% x 70% x 70% = 49%)

From CNBC:

[Meredith Whitney] also said she expected home prices to fall another 30 percent, contrary to some predictions that housing may have bottomed.

"Home prices cannot bottom while liquidity is still contracting from the economy," she said.

She discusses housing in the video from the 5:00 mark to 6:15: