People keep asking me "when are housing prices going to recover."
The answer is simply;
Understand the economic problems the US is having today are IDENTICAL to those of Japan back in the 1989. Stock market bubble AND a housing bubble, followed by a crash and then MASSIVE government "stimulus" spending that only managed to get the economy to limp along at 0% growth rates.
ERgo you can expect US property prices to go where Japan property prices have gone.
Now I know how to fix this. I know how to get not only property prices back up, but stock prices back up as well as GDP. Alas, "capitalism" is out of favor and the idiotic masses who don't know a damn thing about economics ( but know the top three contestants on Teen Idol) have opted to go the socialist route. Thus, all Americans can enjoy their own "lost decade" just like the Japanese did.