This is just ridiculous. The U-T quotes this guy every month when the housing prices numbers come out. Every month he makes something of a hedged prediction. This one’s a classic.
“The market needs to get its footing and it’s not going to get its footing until a bottom has been determined,” Karevoll said.
He predicted that San Diego’s overall median may slip another $45,000 and bottom out at around $350,000.
“If that happens between now and summer, I think there is also an equal chance that the median could go back over $500,000 by the end of the year,” he said. “That’s how crazy it is out there.”
But that prediction assumes San Diego is not in a recession, even if the rest of country is. If a serious economic downturn develops, Karevoll said, many homeowners may lose their jobs, default on their homes and extend the real estate woes well into 2009.
Inspired by that performance, I’m going to try my hand at this prediction thing. But here I’m going to put on my weather expert hat:
I’m pretty sure that if there’s significant high pressure systems in the region, we’ll have warm weather over coming days. But if a storm front comes, it’ll depend on whether it hits us directly or not, if it hits us directly, we’ll get rain. If not, we might have partly cloudy skies.
All around, I know I said it would be sunny not long ago, but it looks like it will either be sunny, partly cloudy, or rainy going forward. Unless, of course, it’s just overcast — which is a possibility as well.
What did you think? Totally nailed it, right. I wish I could put money on that one.
So here’s a challenge to my snarkiest readers. Please post your equally incisive and risky predictions — send me an e-mail if you’d like. I want the best examples of really going out on a limb based on your diligent research.