Josh is right. I think they dropped 15-25%, depending on the area. For the SD County, it was near 15%. The exact data is on the OFHEO website. The Thornberg forcast chart is clearly wrong, and what is odd, is that that is the only chart is the entire report which does not have a source!!!!!!!!!!!!!!!!
I don’t know how much clearer I can be that I know his report inside and out.
Thornberg has a PhD in Economics, but the conclusions he draws are so erroneous, that I realized that you don’t need a PhD in Econ to make forecasts. You need common sense, and I’ve got plenty of that. I e-mailed Thornberg several times, pointing out the weakness in his forecasts. I’m done helping him out. He’s a nice guy, he’s charismatic, he’s real smart, but his forecasts are lousy. I think his popularity will dwindle over the years, as economists are judged by the accuracy of their forecasts, not their charm.
