Don't think this is what WE had in mind...

[gales0678]

Originally Posted by GBBob

You don't think they already have fallen enough? If people keep losing equity and home values keep plummeting, how can that be good? So many people are backwards on their mortgages, not because of anything they did wrong, but rather their homes have depreciated 30% in 2-3 years.

i am not saying that it is good but the reality is this

if you have to remeber we had gains from 2000 to 2006 of 100% to 200% in some areas - clearly now bubble like and unsustaniable

so yes we are still way overvalued in many cities across the country no matter what the politicans say or do

look at historical increases in houses over decades at a time to get an accurate picture

get the median income of an area and times that by 2-3 and that is where housing prices for that area should go to be affordable again by historical standards