Seriously - who knows!
Until the economy stabilizes and people have confidence in our government and jobs are created and health insurance stops increasing........... etc, etc.......we will be on thin ice............oh, and it wouldn't hurt if the rest of the global economy stopped imploding, too.
we didn't crawl out of the last "big one" until there was a push, a catalyst; a WAR.
We are already seeing some good signs; a lot of people are moving around, taking advantage of the good buys and investing.
Take an area like Pheonix; one of the hardest hit areas of the Country. We are seeing a lot of QUESTIONS from people moving down to Phoenix, buying the cheap houses; which is just what they need! They couldn't possibly recover without outside investment.
Florida too. And Las Vegas.
At one time, I though Fresno was in the worst shape of any city in the Country; far from it.
We have a lot going on, including next years Election.
Remember all the PEP songs we heard in the 30's and 40's?
We need that SPIRIT now.
To many people are focusing on the market...past, present, and future.. at the expense of missing out on their own personal needs.
As RE professionals, we should be reacquainting the public with the fact that "the market is what it is" and that people should get along with their lives and their real estate needs.
Time to move on......