Errrr, yeah but mate you were happy to provide it to News Ltd. And you had to walk from Canberra to Mount Kosciuszko because you agreed that you lost your bet with Rory Robertson over this "shitty little" prediction that you rolled out on countless TV stations. So, we have classic complaining from my buddy Steve Keen in this interview with Business Spectator today. Steve is famously loose with his opinions, which I previously benchmarked here. It would seem that the risk of even more public ridicule has compelled him to cut his earlier forecast in half. Rory should challenge him to the same bet again!
"AP: How specific a forecast for house prices are you willing to give for the next year?
SK: Despite the property lobby’s best attempt to tar me with saying, you know, a 40 per cent fall over the next few years – which is a shitty little quote from The Daily Telegraph that Chris Joye touts all over the place – I’ve always been strong in saying that will be over 10 to 15 years.
But in terms of bringing it to a tighter timeframe, I think you could tie me down to saying I’d expect something of the order of a 20 per cent fall from peak to trough, whatever the peak might be, whatever the trough’s going to be. I’d be quite happy now to say the last price peak was the overall peak and so I’d expect something of the order of a 20 per cent fall between now and say the end of 2013."
