Christopher Thornberg Prices Quotations

We say it's a bubble, but a housing bubble does not pop like a stock market bubble, ... A stock market bubble, when it pops, lots of market activity, prices dropping rapidly. Housing prices don't drop that way because there's a huge fixed cost. You don't day-trade your home.

You got to think that this thing is going to end, eventually, one way or another. Prices have gotten to the point that, even with all the crazy financing out there, people still can't get into the market. It's just that over the top.

Prices people pay today will be about the same in 2011, maybe 2012.

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.

Housing prices are going up because the wealthy want to live along the coast. That's who's driving prices up.