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No One Knows Nothing, But Here's A Guess

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The OC Register's Jon Lanser is reporting that the California Association of Realtors (CAR) is now predicting a 28.4% drop in the median price of a California house in 2009, an adjustment of CAR's 6% prediction made in October. In its revised forecast, the association predicts that: "The median house price will fall to $248,000 in 2009. In October, CAR expected the price to fall only to $358,000." [OC Register]