You may be right Cash, but I have to give Case a little benefit of the doubt. I think he is looking at greater metro markets as opposed to micro markets. He is also studying data as opposed to your field visit, so you have a slight advantage in that specific micromarket. He and Schiller have always been fundamentalists, they look a the fundamentals of income and price. Roubini and Schiff have had much more dramatic views but Case/Schiller are a little more moderate yet they called the bubble and have spent their careers tracking it in broad terms.

The point of my support and comment was that karl may see normalcy but he doesn’t see it where we live,so the headline is misleading. If someone thinks things will be fine unless you live in California, then what should we Californians take from that…..that we are not fine, were heading there in a handbasket, that’s what i took from his interview.