Blast From The Past

I was digging up my past reports when I came across the housing market forecast I did in 12/2006. I did a forecast of REO rates for 2006 vintage, and at the time my forecast was that a fifth of the loans originated in 2006 will go into REO within the next 5 years.

I distinctively remember presenting this result at my department meeting: someone at the meeting said: "If those numbers are true, then we'd all be out of jobs". That was December 2006.

12 months later, everyone in my department got laid off. Except for me.