Well if this downturn is of the exact same length as the last downturn we would have about 3 years before we hit a trough in home prices. However, many expect the current housing downturn to be worse than the previous one because the run up in prices was longer and more dramatic. Also, the experience will be different in different markets. Incredibly overheated markets -- like San Diego for instance -- could be in for a longer and more painful downturn than say Fort Collins, Colorado. (click the graph to enlarge).
Courtesy of the New York Times.
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