If they optimists are saying 2010, it won’t be until 2013.
I have a different take… I expect the experts and media to continually point to a potential bottom 12-18 months ahead.
Even when we do hit bottom they will be saying this and they will be wrong. Don’t worry that your target and theirs line up. They will line up then cross at some point. Then, those who are correct in calling the bottom will appear to be too optimistic relative to the experts and the media.
Quote from Thornberg in LA Times today :
“This thing’s going to get worse when the peak of resets occur next year,” Thornberg, the L.A. economist, said. His prediction: Southern California sales and prices will decline into 2009.
This time next year he will be produce an identical quote with the year 2010 inserted.
