Thursday, February 21, 2008

Damned Naysayers

Moody's goes negative, via Calculated Risk.

As CR notes, "In December, Zandi was forecasting house prices would fall 13% and the economy would 'skirt a recession'."

Now, he's forecasting prices falling 20% and a recession for the first half of 2008.

"(T)his economy is down because we built too many houses", sez the Prez.

Darn the luck.

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