So, this is weird.  CAR has been consistantly over bullish, yet here they are, predicting a 24% drop in the CA median price in 1 year (this one, 2008). 
Does that mean they finally got it?  Or should we be wondering just how that could be bullish ... ie.  yikes if that overly bullish outlook trend continues…

Realtors forecast 24% price drop for California houses
http://lansner.freedomblogging.com/2008/05/02/realtors-forecast-24-price-drop-for-california-houses/

Wow, I bet CAR is going to piss off the NAR.  24% sounds about right.  With jobs, economy, inflation, and other pressures, I don’t see any “bottom” or signs of recovery at all this year.  Maybe sometime late in ‘09.

Wow, I bet CAR is going to piss off the NAR.  24% sounds about right.  With jobs, economy, inflation, and other pressures, I don’t see any “bottom” or signs of recovery at all this year.  Maybe sometime late in ‘09.