We first heard the quote on NPR’s Marketplace show yesterday evening, but it has made the rounds plenty since then. “I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year,” D.R. Horton CEO Donald J. Tomnitz told an investor conference in New York. As chief executive of the country’s largest homebuilder (at least if you’re measuring by volume), Tomnitz knows whereof he speaks. Prices will continue to decline until ’08, he said, when builders have burned through some of the massive inventory they have created.
Tomnitz was talking national, but what’s your take on Chicago? Is ’07 going to suck here? Will it suck more in the ‘burbs or in the city, or will it suck equally throughout the metropolitan area? Or does the dire prediction of suckdom not apply to us? Click on “Comments” below.