There will be no crash

Is it fair to pull out what a broker said around 15 months and compare it with reality. Perhaps not, but we will do it anyway. This clip is from Susan Greenfield, vice president and associate broker with Brown Harris Stevens in Manhattan. At some point in the distant past, (probably late 2005 or early 2006) she was asked to give her views about the 2006 outlook.

She had some strong views about the prospects of real estate crash back then. "No way", she said, "no way will the market crash". Instead, the market would slow. Well, you were right about that Susan. Things certainly have slowed.

However, Susan was being a little contradictory back then. One the one hand, she recognised that things had become a little crazy. Let she couldn't accept that prices might correct. Instead, Susan was content to think that things would just return to the 3-5 percent appreciations she had always known.

I wonder what she thinks today.