Further evidence that the real estate markets will be down for some time to come.
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The chief executive of Fannie Mae said on Tuesday that he expects no real recovery for the U.S. housing market before 2010.

“We are going to have a period where we move through the trough,� Daniel Mudd, Fannie Mae’s chief executive officer.

This year “is going to be tough� and next year “will be similar,� Mudd told the Society of American Business Editors and Writers.

“You will start to see some recovery in (2010),� he said.
What Do You Think..when will we see any recovery?