Christopher Thornberg
Christopher Thornberg
Christopher Thornberg is the Founding Partner of Beacon Economics, LLC, an independent research and consulting firm. Under his leadership, Beacon Economics became known as one of the earliest and most adamant forecasters of the subprime mortgage market meltdown in 2007...
aware business cause economic pain people point
It's business delayed, not business canceled. They make people aware of what's going on, but it doesn't cause any economic impact. It's a pain in the butt, but they get their point across.
behaving difficult figure
It's an irrationally behaving market. It's very difficult to figure out where it is going to go.
debate general hard landing mean trend
Things are still hot, but the trend is clear. The only debate now is how hard a landing there will be and what will it mean for the general economy.
deal issue nobody wants
It's such a contentious issue that nobody wants to deal with it.
catch fall flat home jobs local looking lose prices rare seven six unless
It's pretty rare for home prices to fall unless you lose a lot of jobs in the local area. What you're really looking at is prices going flat for six or seven years while the fundamentals catch up.
agents building estate financing people stores
It's people building houses, ... It's people financing the building of houses. It's people working in the stores that are furnishing those houses, and of course, the real estate agents who are making this all happen.
economy top
This is a real-estate-driven economy from top to bottom.
maybe pay people prices today
Prices people pay today will be about the same in 2011, maybe 2012.
backside markets says sliding starting
The markets are starting to cool, and everyone says we may be sliding down the backside of a hill.
california dip forecast liable mediocre worst
The forecast for California is mediocre at best; at worst we are liable to dip into another recession, ... at least 50% if not more.