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05-10-08, 01:21 PM

If he's not tenured he should be fired! If he is he should be as well!

Lanser on Real Estate June 24th, 2006

“Q. What’s your outlook for Southern California and Orange County?
A. I believe we’ll still see price increases for the foreseeble future – for at least a year. There may be some decreases – like in San Diego. On average, prices are still increasing at about 10%. That rate will slow down. But it will stay positive.”

…

“Q. Housing bubble?
A. I don’t see one bursting. When you ask “Bubble?” you imply a bursting. I’ve never agreed with a concept of bubble, or a burst. Perhaps a leveling off.”

Los Angeles Business Journal 5/12/2008

“Cal Poly Pomona finance and real estate professor Michael Carney said he is worried about the sharp drop in prices, especially when compared to the last real estate bubble that burst in the early 1990s. He believes it may mean the bottom is even further off than most people expect.”

“‘That prices are falling faster than sales is not a good sign in terms that the bottom is near,’ said Carney, noting that in the 1990s housing bust it took almost six years for prices to drop 20 percent. ‘You’ll start seeing year-to-year sales volume pick up long before we see a turnaround in prices.’”

I think Prof Carney is drunk on his cool aid!

05-10-08, 01:21 PM	#3 (permalink)
Unregistered Guest/Unregistered Posts: n/a	Dr. Carney is a hack! If he's not tenured he should be fired! If he is he should be as well! Lanser on Real Estate June 24th, 2006 “Q. What’s your outlook for Southern California and Orange County? A. I believe we’ll still see price increases for the foreseeble future – for at least a year. There may be some decreases – like in San Diego. On average, prices are still increasing at about 10%. That rate will slow down. But it will stay positive.” … “Q. Housing bubble? A. I don’t see one bursting. When you ask “Bubble?” you imply a bursting. I’ve never agreed with a concept of bubble, or a burst. Perhaps a leveling off.” Los Angeles Business Journal 5/12/2008 “Cal Poly Pomona finance and real estate professor Michael Carney said he is worried about the sharp drop in prices, especially when compared to the last real estate bubble that burst in the early 1990s. He believes it may mean the bottom is even further off than most people expect.” “‘That prices are falling faster than sales is not a good sign in terms that the bottom is near,’ said Carney, noting that in the 1990s housing bust it took almost six years for prices to drop 20 percent. ‘You’ll start seeing year-to-year sales volume pick up long before we see a turnaround in prices.’” I think Prof Carney is drunk on his cool aid!