From the guy who said there was no housing bubble and that the high home prices were supported by the strength of the economy (July 2005), that a dramatic drop in housing prices was unlikely (July 2005), that the motor vehicle sector was strengthening and the housing ‘correction’ wasn’t going to have a major impact (November 2006), that he expected moderate growth in the middle of the year and that the broader mortgage market was healthy (February 2007), that income and employment would grow and that the economy would see moderate growth for the remainder of 2007 (July 2007).
<sarcasm>Phew! I feel so much better.</sarcasm>