apt23 about 13 hours ago ignore this person report abuse As one who has been quietly rooting for W67's prediction, let me defend him against the Dorothy charge and morph it into a Time Traveller fantasy. If every bubble reverts to the mean, then W67 is just a bit early in his prescience because the 2000 price would be the mean. And here I post my favorite chart once again ( from another SE... [more]
apt23
about 13 hours ago
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As one who has been quietly rooting for W67's prediction, let me defend him against the Dorothy charge and morph it into a Time Traveller fantasy. If every bubble reverts to the mean, then W67 is just a bit early in his prescience because the 2000 price would be the mean. And here I post my favorite chart once again ( from another SE poster). http://www.theatlantic.com/business/archive/2010/08/home-prices-may-drop-another-25/62049/?source=patrick.net#toolsTop I don't think that I will be lucky enough to get 500 psf but I think Manhattan will see it. I hope to get something nice and upscale for under 900 psf. However, I think the new QE II will push the timeline down the road. The market is doing well, people are being forced into assets, the "buy now" mentality will kick in with new wave of foreigners and lemmings alike. So I think w67's prediction which should have been realized in the next year or two will more likely be 3 or 4 yrs -- plus he may have to adjust his prediction for inflation. So when we quote him in future let's remember to adjust to 2008 dollars.
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