Perhaps we’re just getting soft in our old age (we didn’t make a big deal about it, but SocketSite recently turned one). We had access to the much ballyhooed PMI report on Tuesday and chose to ignore it this time around (we must admit, however, that we came very close to posting it under the title “San Francisco Breaks Into The Top 10!”).
Why did we choose to ignore it? An email from a reader provides some insight:
My favorite line [from the Chronicle coverage]: “The chance that real estate values in the region’s three major metropolitan areas will fall during the next two years stands at 55 percent or greater…”
Personally, I think the market will go either up or down…thus there is a 50 percent chance it will go up, 50 percent chance it will go down. This doesn’t say anything!
Great point, but not entirely true. What this does say is that there is uncertainty in the market. And with uncertainty comes increased risk.
∙ Study: Home prices more likely to drop [SFGate]
∙ Here We Go Again [SocketSite]
I really hate it when writers confuse loose and lose. Socketsite, you disappoint me.
Ah crap…fixed and (publicly) flogged.