Big hat tip to SeattleJo, a reader who pointed out to me that last week our local PBS affiliate KBTC aired an interesting episode of their “Northwest Now” program, focused on local real estate.
The whole thing is worth a watch, but the real fun starts at the 5:38 mark, when host Tom Layson has Zillow’s Senior Economist Svenja Gudell and Tacoma agent and former NWMLS head Dick Beeson in studio for some Q&A.
After introducing the guests, Layson confronts Beeson with the chart from this 2008 Seattle Bubble post in which I annotated a graph of falling home prices with bottom-calling quotes from Beeson.
I’m not picking on you here, but I have a little chart from 2007 and 2008 that your friends at Seattle Bubble put together there, and you’ve called the bottom at least three times during the two-year period.
Gudell can be heard laughing in the background.
Layton goes on to ask Beeson if he’s ready to call the bottom again today, to which Beeson’s reply is to hem and haw for a few minutes and not really commit to anything.
Just for grins, here’s an updated version of the chart for today:
I wasn’t able to find any bottom calls since mid-2010 from Dick Beeson. It seems that he may have finally decided to stop setting himself up for ridicule like that.