I guess this is why he’s only an “Associate Professor of Economics” He’s either too blind to see it or he truly is a shill for the real estate industry. Good luck getting the full credential there, Bubbleboy.
KPBS SAN DIEGO (2006-02-02) A University of San Diego economist says the San Diego region’s diversified economy will buoy the area in the event of a downturn in the state or national economy this year.
Associate Professor of Economics Alan Gin also says while the county’s housing prices are inflated, he doesn’t expect the housing bubble to burst anytime soon.
Gin: We’re going to have pretty good job growth this year and in the coming years and even though interest rates are going to edge up a little higher I don’t think it’s going to be enough to cause a big downturn in prices.
Gin expects housing prices in the county to increase five percent or less this year. He warns that higher gasoline prices could threaten the rosy economic outlook. Gin predicts gas prices to surpass last year’s record levels, saying prices could reach the mid-$3 range for a gallon of gas sometime this year.
I heard this on the news today around noon. I was really upset, wondering how the university could hire such idiots, or if you have to be stupid to be an economist. How can housing prices increase 5% when we’ve had price reductions already? Does someone on this forum want to write him a letter? If no one else does, I will.
Of course Alan Gin is a shill masquerading as an academic. He’s faculty for the Burnham-Moores Center for Real Estate at USD. This center is endowed by developers.
He knows where his bread is buttered.
Gotta love the hedge regarding gas prices. It’s not going to be any of the fundamentals discussed here that bring housing down. Look out for those pesky gas prices.
HA!! Talk about perfect timing. I received my Fortune magazine the other day and there was a one page review about some research done on Economic predictions by experts from a professor at UC Berkeley.
This professor concluded after several years of research that “experts” are no better at predicting economic trends than the average citizen.
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