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US Residential M 12 13 22

COMMENT: Mr. Armstrong, I just want to congratulate you on creating Socrates. I am a real estate aficionado and Socrates has beaten the Case-Shiller Index which peaked in June of 2022 and even the Redfin Index which peaked in May 2022. Socrates peaked at a high in December 2021 ahead of everyone. Your model has shown a 34% drop into October where everyone is saying a 20% drop by the end of next year is likely. I just wanted to write because you and Socrates have beaten everyone in the real estate forecasting business and you do not even make that a big deal. Socrates is amazing.

I just wanted to share that because you do not even bother pounding your chest about real estate.

Thank you so much


Real Estate Socrates

REPLY: Socrates is forecasting so many aspects of the world economy I do not have the time to pound my chest and if I did, I would probably end up in the hospital for it gets so many things right. It covers a fair sampling of real estate around the world and I do know we have many major real estate companies tuning in. Thank you for your comment. I have not had the time to look at either of those two indices as of yet.