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BofA CEO Moynihan: Some People Shouldn’t Think Of Their Home As An Asset

CHARLOTTE, North Carolina (By Joe Rauch) – U.S. homeowners may need to look elsewhere for long-term investment returns as housing prices in some areas may not rebound long-term, Bank of America Corp Chief Executive Officer Brian Moynihan sai…

CHARLOTTE, North Carolina (By Joe Rauch) – U.S. homeowners may need to look elsewhere for long-term investment returns as housing prices in some areas may not rebound long-term, Bank of America Corp Chief Executive Officer Brian Moynihan said on Tuesday.

Moynihan, CEO of the largest U.S. bank, said at a state attorneys general summit that low population growth in some regions of the country indicated that prices might not rise in the wake of the worst financial crisis since the Great Depression.

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