I am noticing a pattern. Everytime these places drop 50% the prices and sales start to rebound. Well the Housing market has declined nationwide 27% so we are half way there folks. It took us 2 and half years to get here. So I would say that 5 years from the peak the housing market will start going up but lets hope we don't create a second bubble. Some economist are actually saying "the economy will recover when housing does". So we are to become slaves to the housing market with 3 year booms followed by 5 to 6 years of bust. The housing market will turn upward in either 2011 or 2012. It makes sense with credit available and prices at all time lows and getting lower that people who have the credit rating will swoop in buy these homes cheaply. The best cure for the housing market is to just let it collaspe. It will bottom out at different places in different areas but its the one to sure way to solve the problem. The trouble is that solution means people will have to look elsewhere for an economic recovery cause housing won't be there like it has in the past because we relied to much on its continued success for prosperity and now the bill has come due. There must be a bubble somewhere waiting to be inflated by misguided gov't policies that will jump start a recovery.
