BOA’s Brian Moynihan on housing: ‘The worst is over’ – Charlotte Business Journal

Good News on the Housing Market from Charlotte’s Brian Moynihan, CEO Bank of America

Charlotte NC Real Estate RecoveryIn an interview with Bloomberg TV, Bank of America CEO Brian Moynihan said the U.S. housing market is on the mend.

“The worst is over,” he said, noting past-due mortgages and the backlog of problem mortgages are beginning to subside. “You’re starting to see the home market heal around the country.”

If Moynihan’s take on the issue proves to be true, that’s welcome news for BofA shareholders. The Charlotte-based bank (NYSE:BAC) has been weighed down by the country’s most distressed mortgage portfolio. The bank has spent tens of billions of dollars trying to settle legal problems, write down bad loans and service millions of distressed mortgages.

What’s the Charlotte Real Estate Market doing?  Here is a link to Charlotte real estate market reports–both as a city and by subdivisions.

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Debe

I am a full-time REALTOR® personally specializing in historic homes and luxury home sales in the Charlotte NC real estate market. My team specializes in a variety of areas including first time home buyers, condos and townhomes as well as single family home sales and marketing.   Follow me on Google+

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  1. [...] is in the air and Charlotte home sales are showing unusual fall numbers!  We heard from Bank of America’s Brian Moynihan that the worst is over.  At Savvy + Company, we’ve been seeing this change all year!  The [...]

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