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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (253563)	6/11/2010 12:07:24 PM
From: CalculatedRisk	Read Replies (2) \| Respond to of 306849

Just a note - those guys missed the last recession (called it late), and have had other misses. Mish did a nice piece on their actual track record: globaleconomicanalysis.blogspot.com ECRI in March 2008 (recession started in December 2007): "The U.S. economy is now on a recession track. Yet this is a recession that could have been averted. In January, given the plunge in the Weekly Leading Index, we declared that the economy had entered a clear window of vulnerability." And bottom call for housing prices in May 2007: The Economic Cycle Research Institute's Leading Home Price Index is "pointing to a bottom in home prices" and signaling a recovery in demand, said Lakshman Achuthan, ECRI's managing director. And much more ...