UTC Renter, what about Thornberg’s comments make sense to you? He predicting flat prices until wages catch up. He even had a false chart in his report, with no sources, and it falsely showed San Diego housing prices staying flat in the 1990’s downturn. He says some good things, but on real estate, he is way off base. he never mentions exotic lending, and he says a bubble bursting does NOT mean prices drop,because they will NOT drop. A bubble bursting means prices stop rising until fundamentals catch up.
I wrote a 3 part analysis debunking Thornberg’s forecast. There is way too much wrong with it to rewrite it all here. Check the archives or ocrenter’s site for it.
