""I kind of think we're looking at some type of echo in the credit crisis coming up here. That's what I'm sort of afraid of," said Gundlach, whose firm has almost $11.2 billion in assets under management. "The housing market is dropping. It depends what indicator you look at. Case-Shiller [S&P/Case-Shiller Home Price Indices] kind of lags but it's about to go to a new low. It's one basis point off the low that was hit a couple of years ago,""

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