Reply #12: Nationally maybe, but they're talking a 10 year recovery in the SJ Valley

[Xithras]

There was a major real estate forum here recently, and the conclusion was that prices would stop dropping in three years, and that sales numbers might reach "normal" levels again in 5-6. They didn't project a price recovery to 2005 levels for at least 10 year, and even then only if the U.S. managed to avoid any recessions.

Nationally, the market will probablyu recover in a few years, but prices shot up faster here than anywhere else in the country, and as a result the crash is more intense here than anywhere else. I was a millionaire there for a while because of the boom...not any more :)