my hunch… a 13-15% drop in values (16-18% inflation adjusted) through 2007, another 18-20% inflation adjusted drop for 2008 as the downtrend catches momentum.
Unless, of course the NAR economists are right and the worst is behind us. Heck, we may be poised for another 5 year run resulting in average prices of $1,000,000 in this region.
It could happen. Just like Haley-Bopp might come around again and take us with it.
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