D.H. Horton Inc.'s CEO Donald J. Tomnitz said what most others in the housing business wouldn't when he proclaimed on Wednesday that 2007 "is going to suck, all 12 months of the calendar year."
His blunt assessment contrasted with much of the spin that has been coming from lenders, realtors, trade groups, home builders and others in recent months. There haven't been many straight shooters discussing the housing and mortgage market collapse.
That's why Tomnitz's quote resonated throughout the financial world. Plain and simple, he told it like it is, at least from his point of view.
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