I wouldn’t worry too much. Here’s what I consider to be the nut graf from a more expansive version of the story:
Leamer cautioned that the outlook was based on data trumped by recent reports showing that housing sales and starts were sliding more rapidly than the group had projected.
If the trend accelerates, he said, “then our forecast is too optimistic.”
As we’ve discussed here previously, can these guys really issue extremely bearish forecasts?
