LA Times - "Real Estate Economist Leaves UCLA Forecast" (8-15-06)

"Christopher Thornberg was one of the first to say that the housing market was peaking last year."

"Bearish real estate economist Christopher Thornberg, who says the Southern California housing market is a bubble beginning to pop, has left UCLA Anderson Forecast to strike out on his own."

"His new consulting firm, Los Angeles-based Beacon Economics, will prepare forecasts for regions he thinks are underserved, perhaps including San Diego, the Inland Empire, the Bay Area and Sacramento, Thornberg said. His partner at Beacon is San Francisco economist Jon D. Haveman of the Public Policy Institute of California."

"My guess is we're going to have a hard landing," he said. "It's ugly out there."