UCLA Anderson Forecast: Recession
The Anderson School of Management at UCLA has earned a reputation for making major calls on the economies of California and the nation. "(It) was unique in predicting both the seriousness of the early-1990s downturn in California, and the strength of the state’s rebound since 1993. Most recently, the Forecast is credited as the first major U.S. economic forecasting group to declare the recession of 2001."
The report has a housing related prediction for the Golden State; "a weak housing market" that will drag the economy down. Noting that the current expansion is getting aged in historic terms the forecast "concludes with the assertion that a recession is in the future; he just doesn't know when yet. He doesn't see it in 2005, but believes it could happen in 2006."