Somebody posted Gary Shilling's prediction that the house price will drop another 20%. I always doubt the acuracy of predictions on financial markets, even by famous people. As it says; if you have to predict, predict often!. That means, if you predict so many times, at leaset once, you will get it right. it seems that this is exactly what Mr. Schilling did.
In March 2011, he predicted that the house price will drop by another 20% in 2012 and will drag US into another recession.
http://www.businessinsider.com/gary-shilling-house-prices-2011-3?op=1
His 2011 prediction failed, and now he predict againin May, 2012.
http://www.businessinsider.com/gary-shilling-home-prices-are-high-compared-to-rents-2012-5
I am waiting to read his predictions in 2013....... LOL
