Murray –
Gin and Thornberg both have a vested interest in saying 1% is nothing to worry about.
Gin himself teaches a class through UCSD extension on how to do condo conversions. The class alone brings him thousands of dollars! And that is only one small aspect of how he makes money through real estate. I have met him and he is a very nice guy, but again, it is not in his interest to forecast anything dire.
