OK, so I think that Gary Watts has been overly optimistic in his forecast that California Real Estate will bounce back in just a few months. On the other hand, I disagree strongly with Chuck Ponzi's devastating look at the future in his blog: Southern Real Estate Bubble Crash, where he predicts that Gary Watts will burn in hell! Chuck says "driving a car by looking out the back window is an accident waiting to happen. The past is a terrible predictor of the future; the future is an excellent predictor of the future. If you can see the future you can do better with your career and money than real estate. Current trends and analyzing outside forces are the best way to predict the future of real-estate."
Alan Greenspan, in his new book, "The Age of Turbulence," disagrees with him. He says," To what extent can we anticipate what lies ahead? Fortunately for policymakers, there is a degree of historical continuity in the way democratic societies and market economies function. There is much that we can infer about the U.S. economy and the world at large in the decades ahead, especially if we adopt Winston Churchill's insight: "The further backward you look, the further forward you can see." I think the opinions of Greenspan and Churchill trump those of Watts and Ponzi any day!
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