The source for the prediction (FISERV) in the article predicted a 1.3% decline from April 2007 to April 2008, per the link below.
How did they do ?
The San Diego market declined by ~ 20% in the ensuing 12 months. The average decline PER MONTH was about equal to their precited annual decline.
They published their prediction on the cusp of the most precipitous 18-month decline in San Diego history and completely missed it … by more than an order of magnitude.
Why should we put any weight on their current predictions ?
