We are clearly headed for a record year, ... It can't continue at this level.

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It's another indication of why I think this revenue forecast is very risky.

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Last November, we thought that 2004 was going to be the peak year for real estate excise tax, ... We were forecasting that the market would slow down in '05 and then more in '06. What we've seen so far is that 2005 has been, every single month, substantially stronger than in 2004.

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