It seems to me that I didn’t hear Thornberg say “flattening of prices until fundamentals catch up” until the last few months. Had anybody heard him say that before then?
Also, if the UCLA Anderson school is preparing it’s San Diego report and saying aggessive lending won’t be a problem, then they lose some credibility. They’ve been the most respected (besides maybe Rich 🙂 ) analysts predicting a downturn that I’d been aware of, and now suddenly they’re saying all the IO and Neg am arms aren’t going to be a problem, and prices will flatten. I don’t get it.
