“The California Association of Realtors’ housing forecast now calls for a 28.4% drop in the median price of a California house. That compares to a projected drop of just 6% originally expected when the association first unveiled its 2009 forecast in October.”
Realtors see ballooning Calif. house-price drops - Lansner on Real Estate - OCRegister.com
This is notable both because even the CAR is foreceasting a big drop FROM HERE, but also because as an organization whose financial existence is tied to a rising housing market, their predictions are typically optimistic (as you can see from the massive underpredict they made in October).
(via wiesen)Notes
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