Thursday, January 8, 2009
Another forcast of doom
I'm not sure who this outfit is but the LA times real estate blog used them as a source. Housing predictor.com ranks Riverside as the 2nd worst market for 2009 and expects a 23.9% decline in value. Now I don't agree with their findings. While we may see a 25% decline, I think LA will be higher than the IE this year and I think several other markets will be too. I'm sure we will be in the top ten. But my guess is we will be closer to the bottom of the top ten.
Now, riddle me this Batman, Why do these forecasts bother to go all the way to tenths of a percent with their estimates?? Just round it off, for Pete's sake. It's a freaking guess. It's like having someone ask "when will the real estate market bottom out" and answering with " June 19th 2011 at 4:11 PM".