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18 years ago

Is ANYONE predicting a not-so-soft landing
The Voice of San Diego has earned my respect for it’s unique-to-San Diego non-shill press (though the Union Tribune has recently moderated it’s real estate fawning).

That said, does ANY press, local or otherwise, quote “experts” who predict other than a soft landing? Sometimes I think these journalists just pull quotes out of buckets with different labels: “Real Estate Always Goes Up!”, “This is a Normal Correction” or “We’ll Experience a Soft Landing” .

18 years ago
Reply to  susanunit

Not all commentators are
Not all commentators are spelling out an E-Z, pillow soft landing. Professor Shiller comes to mind, as does the Economist magazine (what do they know, those economists), the UCLA Anderson forecast and Charlie Munger, Warren Buffett’s partner.

At the last Berkshire shareholder meeting Munger said that “you have a real asset price bubble in places like parts of California and the suburbs of Washington, DC.” No believer in Greenspan-speak is our Charlie. I’m guessing Calaveras and Modoc counties aren’t the parts of CA he’s referring to.

For what it’s worth, Sir John Templeton (founder of what’s today the latter part of Franklin Templeton funds) also thinks there’s a housing bubble. A legendary investor, Mr. Templeton’s in his early nineties now, but still sharp as a tack and it pays to listen to experience.

Since these names aren’t quoted regularly alongside the local realtor in most stories regarding today’s housing market, you might not know their views offhand. It does seem that most news organizations share the same rolodex and call on the same tired sources for the official view du jour.

Interesting to note as you did however, that the school song has changed in recent months from a Van Halen track to something more subdued, like Kenny G. Could “Lady Sings the Blues” be far behind on the NAR top 40 playlist?

14 years ago

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