You make a good point UCGal. And I was refering to you when I agreed that there is sometimes a difference between a house and a “home”. Sounds like you have a great hood that you love and that’s important, no doubt.

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Here is a chart that illustrates the importance of the Questions:

1) Do you believe the “Green Shoots” PR and think we are at the end of a recession and NOT in the eye of a depression storm?

2) If so, then why do you believe this is just another run-of-the-mill recession and RE cycle?

http://www.ritholtz.com/blog/2009/07/update-case-shiller-100-year-chart/?ref=patrick.net

Look at the projection for a normal return to median prices (with a run-of-the-mill recession).

But if you are in the depression camp or even leaning towards that end of the scale then probably not a return to GD1 adjusted levels but a over correction to the downside maybe?

Good explantion on why the horrific unemployment number that are being reported every week are not even close to the bleak reality:
http://www.oftwominds.com/blogjune09/unemployment06-09.html