Tilson: Housing Crisis Near “Seventh Inning”

Whitney Tilson, one of the few to warn of the housing bubble before it burst, says we are now around the “seventh inning” of the housing crisis. Tilson tells CNBC that he doesn’t think things will get a lot better anytime soon, but he also thinks it won’t get a lot worse, as the government continues to support the market. Tilson also says foreclosure should be a “rare last option”, not a “common first option”, as he says many banks have made it. He remains bearish on homebuilders.