Reply #39: No we don't.

[quiller4]

"There will be no return to pre-crash VALUATION (adjusted for inflation) for a generation."

In many areas the decline in home values is in the range of 11-17%. While it won't happen overnight, it doesn't take a generation for a property to increase in value by even 25%.

I agree that there is no quick fix and that property values are continuing to decline in many markets but some are already starting to rebound and others haven't changed much at all in the last two years. That is especially true in some places where there were almost no subprime mortgages and where unemployment has held steady at about one-half the national average.

When demand picks up, prices will rise. I don't think anybody can say now how quickly that will take place.