NEW YORK May 5 Jeffrey Gundlach, chief
executive and chief investment officer of DoubleLine Capital,
said on Monday that investors should bet against the SPDR S&P
Homebuilders ETF because he does not see the expected
rebound in single-family housing occurring.
Gundlach, speaking at the Sohn Investment Conference in New
York, said that problems dogging the housing market include
expected rises in mortgage rates and the amount of student loan
debt carried by young adults, which makes saving for a down
He also said that if mortgage financiers Fannie Mae
and Freddie Mac were wound down by the
government, mortgage rates would rise.
(Reporting by Sam Forgione; Editing by Leslie Adler)