SD Realtor:

This article might provide a little more insight into the statement by Kunz you quoted:

http://news.yahoo.com/s/ap/20070727/ap_on_bi_st_ma_re/all_business;_ylt=Agzd0pT1Dtpt3wuuI62hokVIOcEF

In short, he’s calling BS on those in the industry who keep saying they didn’t see the housing bust coming.