Regression Toward the Mean

I have a friend in the building where I work that I sometimes run into while taking a break on the roof. A nice guy, works in Investment, recently moved to the area.

At some point we started chatting about housing and he let me know that he too was a renter. Why I asked? He proceeded to basically rattle off a number of things that sounded suspiciously like what the Realtors are now calling "negative press."

In all of this, he mentioned he's renting now because things will eventually revert back to the norms so there's no point buying right now. Before I phased out, he tried to teach me some deeper economic things, but I got distracted by some pigeons or something.

Anyways, I think his point was that over time things will almost certainly revert back to form over time, they go up they come back down.

Casey's finally reverting back to his historical mean. We've found out over the past few months Casey's fondness for various pyramid schemes, scams and other get-rich-quick efforts. But a couple years ago, Casey took all his money to Vegas and sat down at the 100/200 NL table. Turns out he was a GF and has been spanked. Facing foreclosure...blah blah blah... we got some interesting, unintentional nuggets from him in his posts, he got some sweet media...blah blah...

Now that the story is over and Casey's blown the true opportunities that might have come his way, this is what's left of the train wreck? Begging... err, I mean asking for sponsorships and nickle and dime freelance work? I don't doubt that Casey blew off some real opportunities the last few months, but his penchant for postponement has left him here. Hoping to make a few hundred a week. WELL PLAYED! Any bets as to if the Cnet/MSN stuff is the last article we see about our young friend?