If you haven’t watched this yet………..you should. Dr. Thornberg tells it like it is. Data Quick should hire him to report the true status of the housing market. The only thing I disagree with him about is that he believes prices will drop to where they should be to equal the buying power of the consumer………..but that prices will return to where they are today by 2012. I don’t think that’s possible because buying power of the consumer can’t possibly match today’s housing prices for many, many years. However, he did this presentation in November of 2006 and I wonder if he’s changed his predictions now that he sees how this is unfolding in the middle of 2007?
