The go-to run-away-from guy

Andrew Ferguson marvels at the staying power of an economist who is consistently wrong.

Over time, Zandi’s predictions are tested by reality. In August 2006, he told Newsweek that housing prices would bottom out in August 2007. In October 2007, he told the National Association of Home Builders that the bottom would come in late 2008. In April 2009, he told Time magazine that housing prices would bottom out by the end of the year. (“I feel very confident about this,” he said.) Three months later, he told NPR that “by this time next year, the market will have hit bottom.” The market is still looking for its bottom, and so is Zandi, with both hands.

Haw!