Powayseller made the right call indeed. What she (and many of us) did not expect was that the fed would take such great pains to prop up the housing market. Therefore, the magnitude of the decline has been much less than she predicted.

She is making the correct call again this time. At this time, it is fairly safe to say that, in terms of nominal home prices (i.e., before taking inflation into consideration), the downside risk is much smaller than the upside. The biggest risk is inflation. When that comes, asset (including homes) prices will start shooting up again.