While Greg Swann was dissing HP'ers and talking about year-round golf, this wise man was telling anyone who would listen what was about to come... And then it came.
"A significant decline in prices is coming. A huge buildup of inventories is taking place, and then we're going to see a major [retrenchment] in hot markets in California, Arizona, Florida and up the East Coast. These markets could fall 50% from their peaks."
Kenneth Heebner, CGM Realty Fund, a man who could see the future, as quoted in the July 5, 2006 Wall Street Journal
May 16, 2008
Posted by blogger at 5/16/2008