Home Owners who I helped purchased in 2008-2010 can actually sell at a profit in most cases and can upgrade their living situation while keeping their mortgage payments around the same.
However, what is NOT simple is when/how much the price will adjust when mortgage rates rise. I believe this to be a window of opportunity for sellers. I believe the prices will drop again when inflation can no longer be controlled by the FED keeping rates low. That will be when the foreign entities withdraw their investments from our markets becuase of lost confidence in the dollar.
The current prices are amazing us every day, coming in over comparable sales records. There's no easy way to map it. But the key for a buyer is to focus on monthly affordablity in any market.