What I heard was they thought the last two years were speculation (as Rich astutely has pointed out) but that there were reasonably good fundamentals in place until late 2003 (as I have thought intuitively). My impression was you could take away what ever you wanted. My friends are looking through fresh cleaned rose colored glasses while yours are a bit darker and foggier;). So I think it would be great to hear what someone with your beliefs interpreted their report to say rather than what the realtor driven media has spun out of it. This is not a loaded a question.

By a 180, I mean Anderson was predicting a melt down and they seemed to back away from that to a soft landing with flat prices until 2011. My question for you is whether this is what you heard or was it just media spin?