Merrill exec sees 1-2 yrs of US housing weakness

TAIPEI, Oct 6 (Reuters) - Merrill Lynch's vice chairman said on Monday the U.S. housing slowdown would probably continue for one to two years, with the biggest challenge for global leaders to let markets correct in as orderly a fashion as possible.

Speaking at a conference in Taipei, Merrill Lynch MER.N Vice Chairman Richard McCormack also said he expected commodity prices to continue to fall as demand slows. (Reporting by Faith Hung; Editing by Jonathan Hopfner)