In case it wasn’t mentioned peak in SD was November 2005 according to the CSI, and per latest numbers out today SD is down 39% from peak. 2008 saw a 23% drop, vs 15% in 2007.

That is already more than some of the more bullish contriubtors here expected I think.

Conforming limit schlimit. Ask yourself what fundamentals in our economy are better today than 2008 that will lead to a turn around this year, and don’t hold your breath for an answer.

Anything seemingly good, (loan limits, interest rates, lower prices) is offset by lending standards, lower incomes, or plain and simple fear.

Raising limits won’t stop people from losing their homes and foreclosure will continue to drive prices beyond 50% of peak.

If you don’t believe that, I’ve got hedge fund that specializes in swamp bridges to sell you.