There are a few quotes out there that we love to hate- Greenspan’s "a little froth" comment back in 2005 or Bernanke’s "green shoots" comment last April. Here’s another one we can snicker at six months from now:
"The great recession is over," said NABE [National Association of Business Economists] President-Elect Lynn Reaser.
"The vast majority of business economists believe that the recession has ended, but that the economic recovery is likely to be more moderate than those typically experienced following steep declines."
Here’s another good one from the same survey:
About two-thirds of respondents believed house prices would reach a bottom this year.
I’m afraid if they’d surveyed us we’d have projected more "froth" [especially in high end and commercial RE] and withering green shoots ahead- but then we aren’t "professionals".