Chuck Ponzi October 5th, 2006

A Look back at 2 of our favorite Cheerleaders:

1. Gary Watts:
Then:

Fifteen percent is pretty much in the bag for Orange County in 2006, It’s impossible for prices to go down this year.
- Gary Watts Self Proclaimed Real Estate Economist (Feb 2006)

Interim:

It’s been an absolute miserable six months in terms of real estate…I think we probably are not going to see 15 (percent), but I think 11 or 12 (percent) is still realistic.
- Gary Watts Self Proclaimed Real Estate Economist (Jul 2006)

Now:

We will end the year with positive appreciation in homes while condo prices produce a very small gain.
- Gary Watts Self Proclaimed Real Estate Economist (Sep 2006)

Current:
OC At 2.6% (August 2006) - Dataquick

2. David Lereah
Then:

Are You Missing the Real Estate Boom?: The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade - And How to Profit From Them
- book by David Lereah, Chief Economist for the National Association of Realtors (Feb 2005)

Then:

If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years, … It’s as if you had 500,000 dollar bills stuffed in your mattress.”
- David Lereah Chief Economist for the National Association of Realtors (Jul 2005)

Now:

We need to have a correction. Prices need to come down … Prices are finally coming down and that’s good news.
- David Lereah Chief Economist for the National Association of Realtors (Oct 2006)

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