How can inventory be at the peak level of the last housing bust, and we are only at the beginning of the bust?
Something is going on that makes this time very different.
If we were mirroring the 1990’s downturn, our inventory numbers should be about half, right?
This is another thing the UCLA Anderson Forecast overlooked. They did not mention inventory at all. Not one word about it.
They took the tactic of eliminating factors they couldn’t measure or explain.
Hey, I know. Let’s forecast the weather, but not consider that El Nino thing. After all, it’s kind of complicated and we don’t understand it too well, so we don’t really need to deal with that stuff. We call ourselves the UCLA Anderson Weather Forecast.
