graphrix_IHB
New member
I went to the forecast today. Here are some snippets, and I hope to do a more detailed blog post on it later.
The OCR has <a href="http://ocbiz.freedomblogging.com/2007/12/05/chapman-economists-predict-recession-for-oc-in-2008/">this post</a>, and <a href="http://lansner.freedomblogging.com/2007/12/05/chapman-sees-81-drop-in-08-oc-home-price/">Lansner has this post</a>.
It was definitely doom and gloom. Here is the <a href="http://www1.chapman.edu/argyros/acer/Dec2007_ForecastPressRelease.pdf">link to the PDF file</a> for the condensed version of the data. There was about 2000 people there. The reactions were mixed between, these guys are nuts, and fear to the brink of tears. Doti opened with some humor, to try to ease into the gloomy outlook that was to come. He focused on the California economy, and the numbers were ugly, with exports helping. He made it clear that it was the state and not OC, that will have better exports. He gave his opinion against a government bailout, and to let free-market capitalism take it's course. I thought he did a great job, and the humor really helped for and otherwise gloomy lecture.
Adibi was kinda snarky. He basically said "I told you so". And, he recalled being chastised in 2004 and 2005, when he predicted the market would go down. He said, he was even threatened to be deported back to Iran. He brought up how people say, "it is different here", his chuckling snarky response to that, "Hehe, sorry to break your heart, but it isn't different here." My favorite from Adibi was, when he said "Here are the five things that are wrong with housing in OC." The slide that came up was...
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
The OCR has <a href="http://ocbiz.freedomblogging.com/2007/12/05/chapman-economists-predict-recession-for-oc-in-2008/">this post</a>, and <a href="http://lansner.freedomblogging.com/2007/12/05/chapman-sees-81-drop-in-08-oc-home-price/">Lansner has this post</a>.
It was definitely doom and gloom. Here is the <a href="http://www1.chapman.edu/argyros/acer/Dec2007_ForecastPressRelease.pdf">link to the PDF file</a> for the condensed version of the data. There was about 2000 people there. The reactions were mixed between, these guys are nuts, and fear to the brink of tears. Doti opened with some humor, to try to ease into the gloomy outlook that was to come. He focused on the California economy, and the numbers were ugly, with exports helping. He made it clear that it was the state and not OC, that will have better exports. He gave his opinion against a government bailout, and to let free-market capitalism take it's course. I thought he did a great job, and the humor really helped for and otherwise gloomy lecture.
Adibi was kinda snarky. He basically said "I told you so". And, he recalled being chastised in 2004 and 2005, when he predicted the market would go down. He said, he was even threatened to be deported back to Iran. He brought up how people say, "it is different here", his chuckling snarky response to that, "Hehe, sorry to break your heart, but it isn't different here." My favorite from Adibi was, when he said "Here are the five things that are wrong with housing in OC." The slide that came up was...
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
HORRENDOUS AFFORDABILTY
