I think you those of you forecasting 60-70% declines are smoking weed. If that happens, we are in an economic downturn similar in magnitude to the great depression (granted a number of you see that in the cards). In addition, long before we get anywhere near those kinds of numbers on a nominal basis, helicopter Ben will inflate us right out of it. Maybe you could see 60% on a real basis, but there is just no way that’s happening nominally.
My prediction is for another 20% from where we are putting the total at around 40%. That puts a 3BR, 2BA, 1,600 sq. ft house here in RB a bit under 400K, which I think is about where it will land.
