Nobody knows, and any prediction is unreliable. However, I will go with 5-7 years or so. So much has to happen before properties will again begin to appreciate in value. Foreclosure inventories need to be whittled down, employment has to pick up, salaries need to start rising again. So much negative inertia to be reversed. It's like turning an aircraft carrier around. It will happen, but it will take awhile.
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Man do I wish I knew the answer to that . I hope we are close or at the bottom of this market . But look on the bright side your condo is still providing shelter for you and you are paying down the mortgage. It will come back, it's just a matter of time.
My sense is that 2011 will be flat, and we can hope for improvement come 2012. But returning to values we saw at the height it the tough part. I don't think we'll see that anytime soon.
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