Contrarion View. Bill Miller is probably the 2nd greatest value investor of the last half century behind Warren Buffett.

http://money.cnn.com/2007/03/09/magazines/moneymag/funds_subprime.moneymag/index.htm

FYI, my forecast is a 5 % overall median drop, but in reality a flat market for premium neighborhoods and a 10-15% drop for the less desirable areas as that is where the bulk of the no down subprime sales are.