The NYT reports on the fact that Florida, California, and other states are now having to scale back their projections of property tax revenue because of the recent turnaround in housing prices. The article finds several analysts from the “who could have known” school of economics.

–Dean Baker

Dean Baker is senior economist at the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, including Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer. Read more about Dean.