If employment doesn't pick up (instead of layoffs)
If mortgage rates do not come down.
If we have a soft landing.
Then house prices could stay up.
And those are mighty big ifs.
My feeling is that major metro area home prices have to drop 50% before things might become stable.
This guy above isn't even factoring in demographics.
Boomers will be completely out of the market in 10 years. That is 25% of the houses, empty.
And the repo people are gearing up for lots of foreclosures.
The homes that will be going up are homesteads. Everything else will be going way down.
RE: AVOID Buying a House in these 10 Cities. Major Price Drops Coming.